Kelly Gets Stake in BIM
Broadcast Interactive Media, parent of the YouNews Web platform, got a little richer in terms of its bank account and its, er, intellectual capital, as Christopher R. Kelly has jumped on board. Kelly was part of Kelly Broadcasting Company, which used to own KCRA Sacramento and KCPQ Seattle, and now heads up venture capital firm Fortuna Investments.
Kelly says BIM, which handles hosting and revenue solutions for station Websites, is well-positioned for the bad economy. “Given current economic conditions, it’s fantastic to be able to invest in companies such as BIM that have no debt and are generating strong positive cash flow,” he said. “I’m eager to see BIM continue to build out YouNews and develop their local Ad Network services.”