Independent media agency Horizon Media is in talks to acquire its own media assets.
Horizon CEO Bill Koenigsberg says the company is looking at media properties it can buy or build that would create unique options for clients. He said one acquisition offer is on the table now.
"I'm talking about media properties that we can either create or buy that will provide a competitive client benefit" he said.
"For example, we manage about $500 million of sports marketing business We think there's opportunity in that space to own certain things." Koenigsberg continued. "Why couldn't I go out and produce and produce an incredible sports show that maybe an ESPN would be interested in carrying."
Long ago, ad agency created shows for their clients and bought time on the networks. These days content-production arms of media buying agencies create shows into which their clients' products can be integrated. "I'm not reinventing the wheel," said Koenigsberg.
Horizon executive VP and chief investment officer Marianne Gambelli, who joined the agency in May after 22 years with NBC, will have a key role in role in the asset management business.
This week, Horizon formed a branded content division called Bungalow Horizon. The unit is a joint venture between Horizon and Bungalow Media + Entertainment.
Bungalow Media is run by media veteran Bob Friedman.