Rare Medium closes $87 million investment transaction

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Interactive agency Rare Medium Group, New York, has closed and funded a transaction under which affiliates of private investment company Apollo Management, New York, will invest $87 million in Rare Medium Group. The agency intends to use the capital investment to position itself as the leading shop developing corporations' online efforts, said Rare Medium Chairman-CEO Glenn Meyers.

Copyright June 1999, Crain Communications Inc.

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