Bridge Media Networks, an investment company owned by 5-hour ENERGY founder Manoj Bhargava, has announced widespread investment in major media companies across the categories of magazine, TV, and radio. Dollar amounts are not mentioned in the press release.
Significant in this story is Ghargava’s indictment of media companies which evidently inspired his investment:
“Media companies have become so enamored of delivery technology that they have forgotten the basics – advertisers (their customers), their most valuable audience and even content gets a back seat. Sounds like a great opportunity to me.” — Manoj Bhargava
The radio investments are characterized as “major stakes,” in Audacy and Cumulus Media, the #2 and #3 U.S. commercial networks.
Other investment categories include magazines, TV networks, and over-the-air television stations.