GridNetworks, GMS to Merge

Combined company to provide comprehensive suite of media services

April 17, 2009

2 Min Read

NEW YORK -- Global Media Services (GMS), a New York City-based provider of digital media services that enables customers to generate revenue from live and on-demand video streaming applications announced a merger with GridNetworks, Inc., a Seattle-based on demand, HD-quality Internet video delivery and monetization platform that allows users to stream videos to their computers, mobile devices and televisions. The combined company will provide a comprehensive suite of media services, including signal acquisition, content packaging, encoding, compression, dynamic advertising integration, digital rights management, transaction processing and HD-quality content delivery. Today, GMS currently delivers over 175 MM Streams per month of streaming video content to global consumers for top-tier media companies and leading brands such as MTV Networks, Nickelodeon, Fox Sports, Big Ten Network, Auction Network, SVEDKA Vodka, Speed TV, and Condé Nast Publications.

GMS was founded in 2003 by Jennifer Sultan and Adam Cohen, a 15-year digital media veteran, who will serve as Chief Media Officer of the combined firm. In 1994, Mr. Cohen and Ms. Sultan founded Live On Line, an early pioneer in the streaming space, which was sold to Digital Island in 2000 for $70MM. Digital Island was later acquired by Cable & Wireless PLC in 2002 for $340MM. Live On Line was an early pioneer in the production, acquisition and delivery of streaming and rich media on the Internet. The company produced some of the Internet's largest attended streaming events for customers such as Apple Computer, Microsoft, Sony Music, Arista Records, American Express, Comedy Central, Fox, and MTV. GMS is headquartered in New York City with additional broadcast production center facilities located in Vancouver, Canada and Denver, Colorado. GMS’ investors include Panorama Capital Partners, Comcast Interactive Capital, and Cisco Systems.

According to Adam Cohen, Chief Media Officer of GMS, “The combination of GMS and GridNetworks represents a milestone in the evolution of media services that is capable of addressing the entire digital workflow for content owners that require distribution capabilities to all addressable platforms including PC, Mobile, and TV. Global Media Services enables companies to profit from comprehensive streaming media solutions by leveraging the world’s largest and most advanced IP networks, GMS’s state-of-the-art Broadcast Production Center infrastructure and industry-leading online media services expertise.”

Global Media Services Inc. (GMS)

GridNetworks Inc.

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