Petsky Prunier Announces Transaction in the Direct Response Television Media Industry
Petsky Prunier is pleased to announce Cannella Response Television (“Cannella”), a leading direct response television media buying and performance-based media services company, has received a significant equity investment from ZM Capital and Palladium Equity Partners, two established investors in media. In addition, Veronis Suhler Stevenson provided mezzanine debt financing for the transaction, along with an equity co-investment, through its VSS Structured Capital II Fund.
Founded in 1985, Cannella specializes in television direct response media placement on national cable networks and broadcast stations, with in-depth results analysis on its proprietary Media Star™ software. The company places media for many of the industry’s biggest hits and often supplements media to other agencies. The partnership with ZM Capital and Palladium Equity Partners will enable Cannella to accelerate its growth by investing in both new acquisitions and in the development of new services and media offerings that meet the evolving needs of its growing client base.
A team from Petsky Prunier, led by Sanjay Chadda, served as exclusive financial advisor to Cannella Response Television.
"We could never have imagined navigating these waters during these economic times without an intelligent, thoughtful and well equipped group like you. We want to thank you for the over-the-top dedication you have had to this deal. Late hours, early hours, weekends − you have performed above and beyond."
Frank Cannella, Founder & Executive Director, Cannella Response Television
Robert Medved, President & CEO, Cannella Response Television
