Cable Technology Feature Article
September 22, 2008
ValCom Buying America's Auction Network for $50M
By Eve Sullivan, TMCnet Editor
ValCom, Inc., a provider of media technology, facilities and content for television programming, announces a letter of intent for the merger with America’s Auction Network (AANTV), further solidifying ValCom’s growth in becoming an international media giant.
In recent months, ValCom successfully sought and secured four acquisitions, expanding the company toward $75 million in revenue in 2009. The acquisition of AANTV is for $50 million.
“By adding AANTV, ValCom has secured another valuable asset on an ambitious plan taking us from $2-million to $100-million,” notes Vince Vellardita, CEO / president of ValCom. “Management and operations are solidly in place for our teleport, two television networks, facilities, revenue and earnings that increase share holder value.”
The company once enjoyed a market cap of $275-million and Vellardita is intent on surpassing that previous position with unprecedented growth.
AANTV is a large independent auction house and one of the fastest-growing shopping networks, with a diverse niche of product lines, including art, antiques, coins, collectibles, jewelry, gems and real estate. Shows and auctions are available to 40 million plus U.S. households via MOS Cable Systems, Broadcast Stations and are simulcast on the World Wide Web.
AANTV has established an ever-growing product line and revenues that currently exceed $50-million annually. The network is currently available on 24-hour web casts: Time Warner (News - Alert) Cable, Bright House, Direct TV and Dish networks; will launch in United Europe in October, 2008 and will then extend to additional territories including major Asian markets. This coverage will eventually give AANTV a 24-hour constant prime-time auction audience. Expansion into the European market was secured with a 24-hour channel on an APS/Astra satellite transponder 87.
“The merger with AANTV and ValCom looks like a marriage made in heaven,” says Jeremiah Hartman, director / president of the American Auction Network. “With our 30+ years in merchandising and marketing, 22 of those years in the home shopping venue and ValCom’s extensive management of networks, media, communications, and production experience the last 25 years, we expect revenues to increase to over $250-million in the next four years.”
Based in Clearwater, Florida, ValCom is a diversified, fully-integrated, independent entertainment company that has been in operation since 1983. ValCom, through its operating divisions and subsidiaries, creates and operates full-service facilities that accommodate film, television and commercial productions with its four divisions comprised of studio and rental, television and film, broadcasting, and live theater.
ValCom’s client list consists of all of the majors such as MGM, Paramount Pictures (News - Alert), Warner Bros, Disney, CBS, Sony, NBC, Phantom of the Opera, HSN, and more. Visit: www.ValCom.tv. For information on AANTV, go to: www.aantv.com.
Eve Sullivan is a contributing editor for TMCnet, covering news in the IP communications, call center and customer relationship management industries. To read more of Eve's articles, please visit her columnist page.
Edited by Eve Sullivan