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For Immediate Release


CHANTILLY, VA, July 29, 2009 - BIA Digital Partners II LP (“BIA”), a private investment firm focusing on mid- to later-stage companies, announced today an investment of $17 million in Cross MediaWorks ("CMW" or the "Company"). BIA invested $13 million, and Spring Capital Partners II, L.P. (“Spring Capital”) co-invested alongside BIA. The proceeds were used by the Company for refinancing of existing debt and general corporate purposes.

The Company is a leading provider of media sales and advertising services to the television advertising industry. Key segments of the business include representation of linear and unwired networks, long-form and short-form broadcast, satellite and cable inventory as well as video-on-demand and online properties. In addition, the Company provides agency and “go-to-market” strategies for companies in a variety of industries. CMW is comprised of five brands: Affiliated Media Group, Apex Media, Hispanic MediaWorks, TelAmerica Media, and WizeBuys TV. The Company is headquartered in Scottsdale with additional offices in Philadelphia, New York and Jacksonville.

CMW's growth has been supported by the principal backing of Clarion Capital Partners, LLC, a New York-based equity sponsor, who partnered with executives Marc Krigsman and Larry Rubin to build the Company. CMW's Chief Operating Officer Larry Rubin said, “We are delighted that BIA and Spring Capital have partnered with CMW. We wanted an investor like BIA who knew the media market and could move on a quick timeframe. CMW has a unique opportunity to continue growing in the television advertising market and to expand its presence in interactive, mobile and online.”

“CMW provides a unique offering to its customers and has continued to grow its business during a turbulent advertising climate. We look forward to helping CMW achieve its growth objectives,” states Scott Chappell, a Principal of BIA who will be an observer to the CMW board of directors.

For additional information on BIA Digital Partners, please contact Scott Chappell or Gretchen Dowling at (703) 227-9600 or visit our website at www.biadp.com.


About Cross MediaWorks
Cross MediaWorks is a leading multi-platform media firm that manages an array of media on a targeted and measured basis. Key segments of Cross MediaWorks' business include representation of linear and unwired networks, long-form and short-form broadcast, satellite and cable inventory as well as video-on-demand and on-line properties. For more information on CMW, please visit www.cross-mediaworks.com.

About Clarion Capital Partners
Clarion Capital Partners is a New York based middle market private equity firm. Clarion focuses on growth companies in a variety of industries including Business Services, Healthcare Services, Specialty Financial Services, Consumer Products, Specialty Retail, and Media and Entertainment. Investments are made in a broad range of structures including leveraged buyouts, growth equity, and recapitalizations. Additional information on Clarion can be found at www.clarion-capital.com

About BIA Digital Partners
BIA Digital Partners is a private investment firm, managing over $250 million. Financing is available for acquisitions, organic growth, recapitalizations and leveraged/management buyouts among other purposes. BIA Digital Partners maintains a focus on mid- to later-stage companies operating in the media and entertainment, telecommunications, information, business and consumer services industries. Investments generally range from $5 to $12 million and are in the form of subordinated debt with warrants or preferred equity. For more information, go to www.biadp.com.

BIA Digital Partners has two affiliates, BIA Capital Strategies, LLC and BIA Financial Network (BIAfn). BIA Capital Strategies provides merger and acquisition advice and arranges equity and debt funding. BIAfn, the nation's leading communications appraisal and valuation firm for more than two decades, assists with valuations, research and analysis, strategic consulting, and financial and operational consulting. For more information, visit www.biacapital.com and www.bia.com.

Gretchen Dowling, (703) 227-9646, gdowling@bia.com
Scott Chappell (
703) 227-9610, schappell@bia.com