Conversant Media co-founder Zolton Zavos exits
Conversant Media’s group publisher, Zolton Zavos, will depart the business at the end of the year, Mumbrella understands.
Zavos was the co-founder of the publisher – which owns Lost at E Minor, Techly and The Roar – along with brother Zac Zavos. Since the group’s launch in 2011, he was responsible for the editorial and social strategy.
Zavos and his brother, Zac Zavos, founded the business in 2007
His exit comes eight months after his brother, Zavos, and a month after chief operating officer, Sorrel Osborne, finished with the publisher. Osborne was working with Zavos after the departure of his brother.
All three exits come two years after the business was sold to APN News & Media, now known as Here, There & Everywhere for $11.6m plus earn outs. The acquisition came at a time when a number of independent publishers were being sold, including Junkee Media and Pedestrian TV, which were sold to Ooh Media and Nine respectively.
The acquisition by HT&E was seen as a commitment to digital investment and while Conversant sits as a separate business within HT&E, Mumbrella understands there are plans to align it more closely with radio business ARN, which runs the Kiis and Pure Gold networks.
In the latest calendar year results, Conversant Media posted $4.2m. Its earnings before interest, tax, depreciation and amortisation (EBITDA) was $300,000 and the launch of video platform Club Roar cost the company $320,000.
Zavos’ departure also follows the announcement ARN boss, Rob Atkinson, will depart, and the sale of street furniture business, Adshel, the Ooh Media for $570m.
HT&E appointed former Ten boss, Hamish McLennan, as its chairman one month ago.
Mumbrella has approached HT&E for comment.
Hmm…”The acquisition of HT&E” ?
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Thanks Erm, we’ve fixed that typo.