Entravision has sold its digital advertising representation business to Aleph Group’s IMS Internet Media Services Inc. for approximately $16.4 million.
Aleph Group will acquire Entravision’s MediaDonuts Pte. Ltd. and Redmas Ventures S.L. that operate as Entravision Global Partners in certain countries in Asia and Latin America. The deal is set to close later this month.
As part of the agreement, Entravision will fulfill its Earn-Out Agreement with the founders of MediaDonuts from its 2021 acquisition. Originally set to be paid in April 2025 based on a pre-determined multiple of EBITDA for each of calendar years 2023 and 2024, Entravision will pay the founders of MediaDonuts $6.5 million to end their obligations.
This story first appeared on radioinsight.com