Vision Media Announces the Sale of Two Lines of Business
LOS ANGELES, July 12, 2021 /PRNewswire/ -- Velocity, A Managed Services Company, Inc., has acquired the operating assets related to Vision Media’s cinema in-lobby digital signage, menu boards, and story walls. Furthermore, Golden link Inc. has acquired certain assets of Vision Media’s concessions business. These strategic sales support the company’s focus to drive growth in the digital space, and the migration to a digital first enterprise, supported by physical fulfillment.
“Vision Media’s journey to a digital-first enterprise supported by a global physical fulfillment capability was accelerated by the pandemic. To meet the needs of our media and entertainment clients, we are making significant investments in our digital footprint, anchored by streaming and content security,” said Michelle Ross, CEO of Vision Media. “We are proud to have partnered with Golden Link and Velocity for these transactions, as both are positioned to offer a comprehensive theatrical product set that includes the physical auditorium, in-lobby digital signage, and the concession business.”
At the forefront of today’s digital transformation in media and entertainment, Vision Media is a trusted advisor to premier entertainment partners. Golden Link has a long-term relationship with the company and has demonstrated successful collaboration and innovation in a rapidly growing digital media ecosystem. With this new venture, Golden Link is better positioned to serve Vision Media’s existing clients during this time of growth.
“We are excited to have key team members from Vision Media’s concession team join the Golden Link family,” said Jeff Waaland, President of Golden Link Inc. “Golden Link’s asset purchase of the Vision Media concession business gives both companies a boost in North America and across the globe.”
“Since before the pandemic hit, we’ve been building our current media and digital out-of-home portfolio in the cinema lobby space. As restrictions have eased and more people are returning to regular outings, advertising strategies to reach the post-pandemic consumer have changed. Acquiring Vision Media’s cinema in-lobby digital signage, menu boards, and story walls business enables Velocity to adapt and accelerate our growth, creating substantial opportunities for advertisers and value for exhibitors through our managed services,” said Greg Kiley, Chairman and CEO of Velocity.
FocalPoint Partners, LLC served as financial advisor to Vision Media. The firm facilitated the transition of Vision Media’s concession division to Golden Link and the media and signage division to Velocity.
About Vision Media
Vision Media is at the forefront of today’s digital transformation in media and entertainment, powering cutting-edge, new media technologies and personalized, virtual theatrical experiences for the most discerning global brands, with a strategic focus on security, information technology and data. With a proven track record in innovation, collaboration and long-term, joint venture partnerships, the company is at the epicenter of the year-round ‘awards season’ machine dedicated to supporting a multitude of entertainment publicity campaigns for global film projects leading to some major nominations by guild voters. Vision Media’s highly secure, streaming digital platform, which has been vetted and certified by the most discerning film companies and guild executives in the business, has credentialed the company as a best-in-class trusted partner in delivering precious, premium streaming content to VIPs. For more information on Vision Media, visit www.visionmedia.com
Velocity delivers customized IT managed services such as network management, voice and data connectivity, on-site repairs and service, field project rollouts and implementations, free-to-guest TV and Wi-Fi solutions, digital signage and DOOH media solutions, and more in the retail, hospitality, healthcare, and entertainment industries. Founded in 2005, Velocity is a privately held company headquartered in Holland, Ohio. Today, the company has approximately 500 employees, 13 redundant data centers, 5,500+ certified technicians throughout the U.S., and 450 carrier agreements and is a CLEC in all 50 states. For more information, visit www.velocitymsc.com.
About Golden Link Inc.
For over 20 years, Golden Link Inc. has been the market leader of in-cinema licensed film promotional merchandise. Golden Link licenses, designs, produces, and distributes unique, high-quality products, currently selling in over 80 countries around the world. With global offices, a team of innovative designers, and strong relationships with every major studio, Golden Link offers cinemas a full-service solution with exclusive merchandise that can be found ONLY IN THEATRES. For more information on Golden Link Inc., visit www.goldenlinkinc.com.
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SOURCE Vision Media