PROVIDENCE - Lin Television Corp., which does business as Lin Media, has acquired a majority ownership position in HYFN, a full-service developer of mobile, social media and Web experiences, Lin announced Friday.
“We are excited about this incredible opportunity to be part of Lin Media’s impressive digital media portfolio. It represents a very important piece of our strategy to significantly grow our business and enhance our already powerful reach in the digital marketplace,” Morgan Harris, who will continue in his role as founder and CEO of HYFN, said in prepared remarks.
HYFN was founded in 2000 with offices in Los Angeles and New York City and delivers results-driven campaigns for businesses ranging from mid-sized to Fortune 500 and global companies that “want to reach and engage their target audiences wherever they are, on any device.”
The company’s proprietary social media management system, HYFN8, allows brands to manage their entire social media presence in a consolidated dashboard. According to a Lin release, the “unique social platform” provides custom listening and profile management streams, post-scheduling tools, a “robust” Web-based social media and Web application builder and analystics to “allow for better engagement and monetization.”
“Our acquisition of this growing and successful company is part of our continued investment to build our digital media ecosystem in a strategic way that drives synergies and positions us as the leading one-stop-shop for all marketing needs,” Vincent L. Sadusky, president and CEO of Lin Media, said in a statement.
Robb Richter, senior vice president of digital at Lin, said his company has been “extremely impressed” with HYFN’s digital capabilities, business model and the strength of their management team. “There are important competitive advantages that result from having the agency’s creative talent in the same room as their engineers,” said Richter.
HYFN, which was named one of America’s fastest-growing private companies in 2012 by Inc. Magazine, will join Lin’s digital media portfolio. Lin plans to fully leverage HYFN’s services, solutions and technology, including its social media management platform and creative and technological capabilities.
Providence-based Lin Media is a local multimedia company that operates or services 43 television stations and seven digital channels in 23 markets in the U.S.
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