TubeMogul & Cox Media Announce Partnership To Offer Cross-Device Video Advertising Initiatives

TubeMogul Inc's

stock continues to tumble after the company issued weaker-than-expected guidance for the year. Friday afternoon, the company announced a partnership with Cox Media, but this has not helped the shares recuperate so far. Related Link: TubeMogul Shares Plummet, But JMP Is Still Bullish http://www.benzinga.com/analyst-ratings/analyst-color/15/02/5283038/tubemogul-shares-plummet-but-jmp-is-still-bullish#ixzz3Sy6hL9mg According to a press release (http://www.prnewswire.com/news-releases/cox-media-and-tubemogul-announce-partnership-spanning-tv-and-digital-video-300042853.html), "the companies have entered a bilateral partnership to offer new cross-device video advertising initiatives that empower marketers to more effectively reach local and regional consumers." This deal makes of Cox Media U.S.' first cable company to offer programmatic digital video ad inventory, on top of offering local TV inventory. This provides advertisers with "a first to market local cross-screen advertising solution. This offering is currently available to marketers in all Cox DMAs and has already driven tangible business results." Brett Wilson, TubeMogul's CEO and Co-founder said that "this is the first two-way partnership of this kind" in the industry. He explained: "Cox is using programmatic software in a truly groundbreaking and innovative fashion to provide their partners with unparalleled reach and efficiency. Simultaneously, they've established themselves as leaders in the programmatic TV space by making their inventory transparent and accessible."