The Signal Infrastructure Group announced Thursday that it has purchased Sony Electronics’ interest in Public Media Management, a cloud-based content distributor.
The acquisition continues SIG’s track record of acquiring PMM’s shares from its original partners and adds to its history of rebranding following a management change.
PMM was formed in 2015 through a joint venture of Sony and GBH in Boston. Public Media Group, the forerunner to SIG, bought GBH out of its shares in 2020. PMG rebranded as SIG in 2021.
Public Media Venture Group will retain its ongoing interest in PMM because of its initial investment in what later became SIG, according to a news release.
With this acquisition, SIG will rebrand itself as Media Management. Under this new ownership group, Media Management is planning further investment in broadcast technology. PMVG founder Marc Hand will serve as CEO of Media Management.
“I’m excited to assume an active leadership role in the management and development of Media Management as a platform that can bring a range of much needed technology to public stations — from Cloud based solutions to streaming and production tools that are essential to the future of public media,” said Hand in the news release.
John McCready, board chair of Media Management, said the consolidation of PMM “will strengthen our capabilities and facilitate an environment of renewed attention on identifying and developing the most innovative technology to drive operating efficiencies at public stations.”
Sony will continue to provide support to the new company Media Management through its “multi-year service agreements,” according to John Studdert, interim president of PMM and VP of imaging solutions sales for Sony Electronics.
The Network Operating Center for Media Management will remain at GBH, with the staff and leadership of Media Management continuing to provide support for its client stations.