Blackstreet Capital Management Acquires Fanfare Media Works From Beltway Capital Partners

Bethesda, MD - Blackstreet Capital Management, a Bethesda, MD based private equity fund, announced the purchase of the debt of Fanfare Media Works from Beltway Capital Partners. Blackstreet has foreclosed on Fanfare, won the resulting auction, and has reorganized the assets under a new entity, FMW Inc., ("Fanfare"). Blackstreet has brought in President & CEO Brendan Ross to lead the new entity.

"Fanfare remains number one in each of its product lines," said Murry N. Gunty, Managing Partner of Blackstreet Capital Management. "The Company's long term supermarket relationships and extraordinarily talented sales force make it the local advertising outlet of choice for businesses across the US and Canada. We are excited about the future of the business."

The Fanfare board includes former Ticketmaster-Citysearch CEO John Pleasants. "The standout players in local advertising combine technology with feet on the ground," said Pleasants. "In this era of information saturation, Fanfare's simple, no-nonsense products are able to cut through the noise and remain relevant to today's consumers."

Brendan Ross joins Fanfare as President and Chief Executive Officer. "Our outstanding supermarket partners are the hubs of their communities. Literally everyone goes grocery shopping, providing our local advertisers with the unique opportunity to reach everyone in their community. There is nothing else comparable."

SOURCE: Blackstreet Capital Management