The purchase expands TownNews.com’s broadcast capabilities and offerings, including broadcast quality video available for their desktop, mobile, and OTT applications.
TownNews.com, creator of multimedia content management platforms, said today that it is acquiring Field59, producer of video management and streaming solutions for media organizations. Terms were not released.
“We are thrilled to have Field59 join the TownNews.com team,” said Brad Ward, CEO of TownNews.com. “Field59 has been a strong and trusted partner for several years. Integration of Field59’s video platform within BLOX CMS allows our customers to have broadcast quality video available for their desktop, mobile, and OTT applications.”
“I’m extremely excited. Our partnership with TownNews.com has been very rewarding,” said Derek Gebler, CEO of Field59. “We’re bringing to the table more than 15 years of experience working with broadcasters and their digital video workflows. Field59’s video solutions are the perfect fit for TownNews.com’s complete digital media offering.”
The companies said the acquisition will help clients of both their firms “navigate a market facing upheaval from changing media consumption habits and overhauled regulatory guidelines.”
“We’ve strived for nearly 30 years to bring our customers emerging technology that can help them successfully evolve their business models,” said Marc Wilson, executive chairman of TownNews.com. “The FCC’s recent change in cross-ownership rules makes it easier for media companies to deliver their news and advertising content in new ways. As consumer habits continue to change, TownNews.com is pleased that we can, with this acquisition, provide another set of elegant yet inexpensive tools to create better communications channels between media companies and their audiences.”
Gebler sees joining TownNews.com as an opportunity for the Field59 team to continue their core mission under the umbrella of a strong technology partner.
“Video is such a big piece of the digital media puzzle,” Gebler said. “We’ve always focused on making the video workflow as seamless as possible. With TownNews.com, we will be able to continue and expand on that philosophy.”