Innovation Ventures-backed IV Media completed the acquisition of operating assets from iMedia Brands for $55m.

Innovation Ventures-backed IV Media, an internet media company, completed the acquisition of operating assets from iMedia Brands, a media company, for $55m. “On behalf of iMedia, I am pleased to announce the purchase of iMedia’s operating assets by IV Media. Under new ownership, both companies will be well positioned to grow and achieve great success together well into the future. With IV Media’s partnership, iMedia will continue delivering customers the diverse range of brands they desire through captivating content. Today’s announcement is a great outcome for iMedia, and I thank our valued team and partners for their continued support during this process,” James Alt, iMedia Chief Transformation Officer.