Business
ReelTime to Acquire 15 Year-old Discount Media Powerhouse Discount Ad Brokers, Gaining Millions in Revenue, Longstanding Marquis Clients, and over 2 Million in Prime Media Inventory -- Marks Major Progress Towards NASDAQ Qualifications
ReelTime to Acquire 15 Year-old Discount Media Powerhouse Discount Ad Brokers, Gaining Millions in Revenue, Longstanding Marquis Clients, and over 2 Million in Prime Media Inventory -- Marks Major Progress Towards NASDAQ Qualifications.
About this update from Reeltime Rentals, Inc.
[{"type":"text","content":"\n Seattle, WA, Dec. 10, 2020 (GLOBE NEWSWIRE) --  via NewMediaWire -- ReelTime VR/ReelTime Media (OTC:RLTR) has entered into a formal binding letter of agreement where it will acquire 100 percent ownership of  Discount Ad Brokers, a 15-year-old media company operating within a unique niche of the advertising industry. Discount Ad Brokers focuses on providing clients top tier placements at pricing levels at or below remnant inventory rate structures through a unique inventory acquisition model utilizing contracted capacity buys and aggressive bulk inventory based contracts with major US media properties The acquisition valued at 2.7 million dollars is being completed without the use of toxic debt instruments and is expected to formally close by the end of the year whereas the financials will be consolidated with ReelTimes.  Discount Ad Brokers will maintain the majority of its current staff with operations expected to move from their current location in Washougal, Washington and be consolidated into ReelTime’s location during 2021, where it will merge with the ReelTime sales, support and production staff to increase sales and overall capabilities by bringing the companies together. Discount Ad Brokers have consistently been the agency of choice for discount media placements for notable marquis clients such as Hooters, Hard Rock Resorts International, Toys for Tots, Tony Robins,  Glucose Health, SeaWorld,  and numerous national brands within the hospitality, finance and As Seen On TV sectors generating over 30 million dollars in revenues from these accounts, which will be maintained in accordance with the agreement.  Annual gross billings have averaged over $20 million per year over the last 3 years resulting in net placement revenues averaging $2.6 million per year.  Net revenues have historically risen from, 4.2 million in 2018, to 5.1 million in 2019, yet are expected to be reduced to just over $1 million in 2020 due to an elimination of ads from restaurant and travel clients that have historically been a large percentage of the company’s mainstay business. This has begun to shift and is intended to exceed past performance once restrictions on travel and dining are lifted as is expected early in 2021. There is a pent-up demand for travel and restauran...