Nexxen settles with Alphonso and LG, entering into three-year partnership

Wednesday, February 28th, 2024 
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Nexxen Reaches Favorable Settlement Agreement with Alphonso Inc. and LG Electronics, Inc. and Enters into Multi-Year Strategic Partnership

  • Alphonso to adopt Nexxen’s data-driven tools, with Nexxen gaining access to LG Electronics’ premium streaming inventory

NEW YORK — Nexxen International Ltd. (AIM/NASDAQ: NEXN) (“Nexxen” or the “Company”), a global, unified advertising technology platform with deep expertise in video and Connected TV (“CTV”), today announced it has reached a settlement agreement and launched a three-year strategic partnership with Alphonso Inc. and LG Electronics, Inc. (“LGE”).

The executed settlement agreement includes a cash component and a commercial strategic partnership that resolves the disputes underlying the complaints, thus concluding the parties’ litigation.

Alphonso will grant Nexxen access to monetize a portion of LG’s premium CTV inventory and will also leverage Nexxen’s data-driven discovery and segmentation tools.

“This agreement marks the start of a strategic partnership between two global leaders in the CTV sphere. Nexxen’s access to LG’s CTV media is a boon for advertisers looking for engaged audiences, unique reach, and global scale across millions of screens. In turn, Nexxen’s platform and data-driven tools augment LG’s own advertising, unlocking unique insights to drive more precise and actionable campaign strategies. I look forward to building a solid strategic partnership between our companies and am pleased to have put these legal issues behind us,” said Ofer Druker, CEO of Nexxen International.

“We are happy to have resolved these legal issues and to provide Nexxen access to some of our premium owned and operated inventory on LG Channels,” said Serge Matta, President of Global Ad Sales at Alphonso. “We are pleased to focus on cooperation over the coming years.”

Links: Nexxen; Alphonso; LG Electronics