TORONTO, Feb. 20, 2024 (GLOBE NEWSWIRE) -- ZoomerMedia Limited (TSXV: ZUM) ("ZoomerMedia"), a multi-platform media company devoted to creating legacy and digital content for Boomer Zoomers to GenZ Zoomers, announces that it has completed the acquisition of Curiocity Group Inc. ("Curiocity"), one of Alberta's leading digital media publishers, with a presence in other key markets in Canada. Curiocity is focused on hyper-local content with nearly 4 million daily readers who consume its up-to-the-minute local food and drinks, experiences, deals, and adventures. The aggregate purchase price of $5 million was paid in cash on closing (the "Purchase Price").
This acquisition comes on the heels of ZoomerMedia's announcement of last week that the company purchased Owen Sound's CJOS Bounce 92.3FM from Bell Media.
In fact, Curiocity marks ZoomerMedia's seventh acquisition in two years as Founder and CEO Moses Znaimer carries out his plan to expand the company's reach beyond its original core demographic, the 45-plus. 85 percent of Curiocity's audience is between the ages of 18 - 44.
Said Moses: "When I launched CityPulse in 1977, I said, "The best TV tells me what happened to me, today." Now, digital is how Millennials and GenZ get their local info. With blogTO, we own local in Toronto and the GTA; with Daily Hive we own local in Vancouver and the GVA; and now with both Hive and the much-admired Curiocity, we own local in Calgary and Edmonton. Curiocity, along with Daily Hive and LudwigVan, also have contributors in Ottawa and Montreal.
Altogether, our reach represents over 90 percent of the English speaking population in Canada.
Curiocity is the last piece in the puzzle and cements the Zoomer Digital Network as Canada's most dominant digital force with over 1 billion annual pageviews and social media engagements. Along with EverythingZoomer.com, The Peak, LudwigVan, blogTO, Daily Hive and our legacy television, radio, and print properties* (see below), Curiocity amplifies our ability to appeal to all generations regardless of the platform or genre of their choice."
Said Curiocity Co-Founders and siblings Mark Montanini and Lisa Briscoe: "From day one, our focus has been on building a business, a brand, and a model that can go beyond just the two of us and our small, but accomplished, teams. Local is Moses' wheelhouse. His expertise, along with ZoomerMedia's guidance and large and robust sales force, will enable Curiocity to scale to new heights that would otherwise be impossible to achieve independently. We're excited about what the future holds for Curiocity and look forward to growing our monthly content views, already at over 250 million, across all platforms including the coveted Meta where we remain available for business."
The Purchase Price was funded through loans from related parties (or their affiliates) of ZoomerMedia, being Moses Znaimer and an affiliate of Fairfax Financial Holdings Limited, in the aggregate principal amount of $5 million (the "Loans"). The Loans are unsecured, mature in one year, and accrue interest at a rate of five percent (5%) per annum. The Loans are related party transactions within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and the parties are relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the Loans do not exceed 25% of the market capitalization of ZoomerMedia, respectively in accordance with MI 61-101.
About ZoomerMedia Limited
Founded by television and media icon Moses Znaimer in 2008, ZoomerMedia Limited is a multimedia company devoted to creating content, services and experiences for Canada's most powerful audiences: the 17.2 million people aged 45-plus aka "Zoomers", and the 13.7 million Millennials and Gen Zs, coincidentally also called "Zoomers", who follow in their footsteps.
ZoomerMedia operates 5 TV, 3 Radio, 3 Print, and 22 Digital properties. ZoomerMedia produces original TV, Radio, and Podcast programming, offers clients creative audio and video production services, and bespoke events on site at its 2.6-acre complex in Toronto's Liberty Village.
For specific ZoomerMedia property names and focus, please see below.
Television properties include: VisionTV, available in 7.5 million households is Canada's home for British comedy and drama series, plus uplifting movies, music, news, and multicultural and multilingual faith programming; ONETV: The Exercise & Entertainment Channel, combines original yoga, pilates, tai chi, and cardio fitness series with British serial soaps, dramas and American movies; JoyTV in Vancouver, Victoria, Surrey and the Fraser Valley, and FAITH TV in Winnipeg are devoted to broadcasting Christian, multi-faith, and local content.
Zoomer Digital Network (ZDN): reaching 18.5 million monthly active users with over a billion annual pageviews and social media engagements, ZDN comprises: Daily Hive, dailyhive.com in Western Canada, Ontario, Quebec, and The Maritimes, is one of Canada's most followed news brands with over 10 million monthly active users, over 270 million annual page views, and 3.1 million followers across Instagram, Facebook, Twitter (X), TikTok, and LinkedIn; blogTO, blogto.com, Toronto's unrivalled local publisher across digital and social media platforms, bringing in 8 million monthly active users, and over 213 million page views annually; Zoomer Magazine's EverythingZoomer.com, Canada's leading provider of online content targeting the 45-plus; The Peak readthepeak.com, serving 150,000 Canadian professionals and business leaders with the top global business, finance, and tech stories of the day packaged in smart, fast, and easily digestible formats; and Ludwig Van, Ludwig-Van.com, Canada's leading and fastest growing digital voice for the latest classical, opera, chamber and choral music headlines, reviews, comments and personality driven features and interviews.
Radio properties include: The New Classical FM, Canada's only commercial all classical music radio station broadcasting over three frequencies in a unique regional Ontario network: 96.3FM CFMZ-FM Toronto (GTA), 103.1FM CFMX-FM Cobourg (Eastern Ontario), and 102.9FM CFMO-FM Collingwood (Southern Georgian Bay); Zoomer Radio, The Original Greatest Hits, the biggest broadcast footprint in Canada also reaching 28 American States, and broadcasting simultaneously both in AM and FM in Toronto (740AM CFZM-AM and 96.7FM CFZM-FM); and the newly acquired CJOS Bounce 92.3 FM in Owen Sound playing Adult Hits. (The sale is subject to CRTC approval and other closing conditions).
Print properties include: ZOOMER Magazine, the Company's flagship magazine and Canada's largest paid circulation magazine for the 45-plus market; On The Bay Magazine, a dominant regional lifestyle magazine published quarterly for the 20 towns and villages of Ontario's Southern Georgian Bay; and Tonic Magazine, a regional health and wellness magazine published bi-monthly and distributed across the City of Toronto.
Media contact:
Leanne Wright, SVP Communications
ZoomerMedia Limited
416-886-6873
leanne@zoomer.ca
