PHOENIX, March 23, 2012 (GLOBE NEWSWIRE) -- EL Media, a division of Phoenix-based Ellman Companies, announced today that Cantor Fitzgerald, L.P., a leading financial services firm, purchased a stake in EL Media and all of its subsidiary media entities (EL Media) for an undisclosed sum. The transaction follows last year's venture that EL Media entered with a division of Panasonic Corporation to help further a massive network of digital signage throughout North America.

EL Media's current outdoor signage business includes operations in Los Angeles, Las Vegas, Phoenix, Denver and San Jose in the United States and its joint venture with Clear Channel Outdoor in Canada with operations in Toronto, Montreal, Ottawa, Edmonton, Vancouver and Winnipeg. EL Media has an exclusive digital venture with Panasonic throughout the U.S., Canada and Mexico and a venture with Swift Transportation in Truckside Media for exclusive advertising rights on their 47,000 truck trailers.

"Today's announcement involving a renowned Wall Street firm like Cantor Fitzgerald, and last year's affiliation with Panasonic, provides EL Media with significant capital to grow and establish a global outdoor media network," said Steve Ellman, Founder and CEO of EL Media. "We plan to continue to grow our media presence through both acquisitions and organic development," he said. EL Media currently has over 2,000 billboards in its portfolio.

Steven Kantor, Global Head of Investment Banking at Cantor Fitzgerald stated, "We were attracted to EL Media's near debt-free balance sheet, goal to create one of the largest digital networks in North America, its growth opportunities and technological market advantages due to its exclusive venture with Panasonic."

Under the terms of the agreement, Ellman will continue to be responsible for all day-to-day operations of EL Media and its subsidiaries.

Ellman has been involved in the outdoor signage business since the mid-1990s. Ellman bought Clear Channel Outdoor's majority interest in Clear Channel Branded Cities in October 2010 after being a partner with Clear Channel Outdoor in the U.S. for several years. Ellman remains a partner with Clear Channel Outdoor throughout Canada.

EL Media will deploy Panasonic cloud technology to distribute specialized, targeted advertising and information content to digital signs across North America, offering customers the ability to advertise in major city centers seamlessly.

About The Ellman Companies and EL Media

"Ellman," www.ellmanco.com is a privately-owned media, real estate and investment company with diverse ownership interests in 86 companies throughout the U.S., Canada and the Caribbean. Founded in 1972, Ellman has developed, owned and operated over 12 million square feet of mixed-use, retail, entertainment, office, hospitality and residential real estate. Ellman is the only North American real estate developer with a prominent outdoor spectacular signage, sponsorship and media activation platform. EL Media owns Branded Cities Network, www.brandedcities.com which develops spectacular outdoor signage in "Times Square-like" districts throughout North America, and has a joint venture with Clear Channel Outdoor in Clear Channel Canada, which operates advertising signage in major Canadian airports, shopping malls, transit shelters and along freeways.

About Cantor Fitzgerald

Cantor Fitzgerald, a leading global financial services firm at the forefront of financial and technological innovation, has been a proven and resilient leader for over 65 years. Cantor is continuing to grow its capital markets and investment banking businesses. Serving more than 5,000 institutional clients around the world, Cantor is recognized for its strengths in institutional equity and fixed income sales and trading and for its expanding presence serving the middle market with investment and merchant banking services, prime brokerage, and commercial real estate financing.  Cantor Fitzgerald also is a leader in new businesses and marketplaces including gaming technology, e-commerce, and other ventures. Cantor Fitzgerald & Co. is one of 21 primary dealers authorized to trade U.S. government securities with The Federal Reserve Bank of New York.  Cantor Fitzgerald's 1,400 employees serve clients through over 30 locations, including major financial centers around the world in the Americas, Europe, Asia/Pacific, and the Middle East.  For more information please visit www.cantor.com.

Note to Editors: Cantor Fitzgerald, L.P. is the parent entity of Cantor Fitzgerald & Co.

About Panasonic Enterprise Solutions

http://www.panasonic.com/business/enterprise/enterprise-solutions-company.asp

Panasonic Enterprise Solutions Company, a unit of Panasonic Corporation of North America, the principal North American subsidiary of Panasonic Corporation (NYSE:PC) and Branded Cities Network (BCN), a subsidiary of EL Media, out-of-home media company have an exclusive, long-term, strategic digital alliance in the U.S., Canada and Mexico. Panasonic is the exclusive provider for all BCN digital signage. BCN is also the exclusive sales agent for all third-party advertising sales on already-constructed and future Panasonic signs in premier venues throughout North America.

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         Sandra Lee
         Cantor Fitzgerald
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         slee@cantor.com