Zealot Networks Acquires Converge MediaThursday, February 5, 2015
Zealot Networks has picked up another talent management firm, acquiring comedy-focused Converge Media Group for an undisclosed amount.
CMG, which also produces branded TV and multimedia content, counts Pepsi, ABC, Microsoft and Marriott as some of its marketing clients. The New York firm will continue to operate under its name and be housed under Zealot’s music and entertainment vertical.
“With CMG on board, Zealot now has a studio with content making capabilities on the East Coast – a key component in building our business model,” Zealot Cief Executive Danny Zappin said in a statement.
Zealot launched with $25 million in August as a digital media studio that would have a hand in content creation, brand management, distribution and Web publishing platforms. The Venice company is also part-accelerator and wants to produce digital media startups in-house.
Zappin, a co-founder and former chief of Maker Studios, has not been shy about using new capital – Zealot has received more than $30 million to date – to expand his digital media company through acquisitions. In December, the company bought a majority stake in Sherman Oaks music licensing firm AudioMicro for $20 million. Last month, it acquired Premier Sports & Entertainment, an Encino company that represents coaches and athletes in contract negotiations and sponsorship deals.
Investors include Zappin, ITV and a number of former Maker employees.