Horizon Media sells minority stake to two investment firms to fuel further digital, international growth

Horizon Media, the largest privately owned media agency group in North America controlled by its founder Bill Koenigsberg, sold a minority stake in his company to Temasek, a Singapore-based investment firm and LionTree, a New York-based investment firm founded by Aryeh Bourkoff.

None of the parties involved disclosed the value of the deal, except for Koenigsberg noting he will remain majority shareholder in charge of the company.

Since its founding in 1989, when the media world was a much less complicated place, Horizon has grown into a firm handling just under $10 billion in media spend for clients across many spaces. The company has launched several offshoots in the ensuing years, starting units dedicated to content creation, social, gaming, e-commerce, sports, and studying behavioral sciences. Clients include multiple TV networks as well as Geico insurance and Corona beer.

Koenigsberg said in a statement that “Horizon sees more opportunity than ever before to take advantage of gaps in the marketplace and continue our significant growth in driving positive business outcomes for our clients. In evaluating the next evolution of Horizon, I wanted a world class partner who is like-minded strategically, has the same appetite for growth, understands the media, marketing, and technology landscape, is global in scale, and culturally aligned. I found that perfect combination in Temasek and LionTree.”

Koenigsberg told Digiday that the infusion from both partners will help Horizon move faster in investing across all realms of digital that reflect the changing habits of consumers since the pandemic began. “This is a way to super-size what we do in content, e-commerce, mutlicultural, technology and innovation across the board,” he said. “And I want smart people at my side who can help me make the best moves.”

Temasek brings international knowledge and access, particularly in Asia Pacific, where Koenigsberg said there’s a chance the company would invest there. And he pointed to LionTree’s digital-first portfolio as indicating that firm “can see around the corner of digital and tech.”