BIA Financial Network Acquires The Kelsey Group; Forms BIA Advisory Services, LLC to Focus on New Media and Trends in Local Advertising : Combined Resources Will Offer Comprehensive View of Local Ad Markets and Perspectives on the Transition from Traditional to New Media Platforms

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BIA Financial Network (BIAfn – http://www.bia.com), a leading financial and strategic advisory firm serving the media and communications industries, has acquired The Kelsey Group (http://www.kelseygroup.com), the Princeton-based provider of research, data and analysis on print and electronic Yellow Pages, local search, small-business marketing and local media. The combined resources of the two companies will offer a comprehensive view of local advertising markets as it impacts traditional media, new media, entertainment, technology and telecom. The acquisition will also further expand BIAfn’s offerings and capabilities to its clients through The Kelsey Group’s industry conferences on the impact of new media and the firm’s global reach.

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The addition of The Kelsey Group to the BIAfn family enables us to meet a wider set of customer needs during a real time of transition in the media industry

"The addition of The Kelsey Group to the BIAfn family enables us to meet a wider set of customer needs during a real time of transition in the media industry," said Tom Buono, President and CEO of BIA Financial Network. "The Kelsey Group's ability to identify and forecast changes in local markets and businesses through its own research and consulting complements BIAfn's services to a different segment of the media industry."

"We were looking for a way to increase the value for our clients," said John F. Kelsey, III, chairman and cofounder, The Kelsey Group. "BIAfn has been a market leader in analyzing, interpreting and delivering superior insight into the local advertising arena. Importantly, their areas of expertise complement The Kelsey Group's strength in directional media."

Under the agreement, The Kelsey Group, led by CEO Neal Polachek, will operate under a newly formed subsidiary, BIA Advisory Services, LLC, which will also include BIA Consulting and BIA Research. John Kelsey, who founded The Kelsey Group in 1986 with his wife Pam, will oversee conference planning and execution while continuing his role in client relations and business. BIA Advisory Services will retain The Kelsey Group's current offices and personnel across the country.

"Combining the thought leadership and deep market knowledge of our two organizations results in a powerful resource for the companies that operate in the transitioning local media marketplace," said Polachek.

With the acquisition of The Kelsey Group, 25-year-old BIAfn is positioned to strategically counsel its core clients into new technologies and mediums that will help expand their revenues and improve the industry landscape. The Kelsey Group clients will benefit from BIAfn's appraisals, valuations, financial and strategic assistance, and data services not previously offered by the company.

"It is critical for traditional media to embrace the Internet and other forms of new media, but there remains uncertainty over what direction to take," said Buono. "The Kelsey Group's expanded access to key research on local advertising and new media trends, in addition to their respected conferences addressing critical issues for surviving in this complicated new environment will create a rich solution set that will enhance how we help our clients navigate through the online land mines. It is a significant opportunity for growth that we all plan to capitalize on for everyone's benefit."

About BIA Financial Network, Inc.

BIA Financial Network, Inc., (BIAfn), has served the media, telecommunications and technology industries for more than two decades with financial and strategic advisory services, as well as a comprehensive array of research and investment resources. In addition to providing competitive and comparative information and analysis, BIAfn is also the nation's leading communications appraisal and valuation firm. Its affiliated company, BIA Capital Strategies, provides merger and acquisition advice, and arranges equity and debt funding. BIA Digital Partners LP provides subordinated debt and preferred equity investments to medium stage communications companies. Additional information is available at http://www.bia.com

About The Kelsey Group

The Kelsey Group is the leading provider of research, data and strategic analysis on directories, small-business advertising, online local media, vertical market advertising and mobile advertising. Founded in 1986, the company has built a reputation as the premier analyst firm covering the directory publishing community and the emerging local search marketplace, providing advisory services (The Kelsey Report®, Interactive Local Media and Marketplaces), publishing (Global Yellow Pages™), consulting (more than 400 individual assignments) and conferences (72 events). For more information about The Kelsey Group, visit http://www.kelseygroup.com.

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