ITN and Magnite launch first local linear TV private marketplace

NEW YORK - ITN and Magnite (NASDAQ:MGNI) announced Thursday the launch of the industry’s first LocalLinear TV Private Marketplace, designed to bridge the programmatic gap for local broadcast television advertising. Magnite, with a market capitalization of $2.65 billion and currently trading at $18.64, has seen its shares surge 56.77% over the past six months according to InvestingPro data.

The new platform enables advertisers to use digital-like workflows for local TV buying, offering self-service deal creation, targeting controls, auto-bidding, and delivery dashboards. Local linear TV inventory is now available through Magnite’s ClearLine platform, allowing buyers to access both local TV and digital video programmatically in one location.

The collaboration aims to combine local broadcast’s reach with digital advertising’s efficiency and precision. Advertisers can now activate live local linear TV alongside streaming content through real-time bidding workflows.

"We’ve moved well beyond where previous programmatic linear efforts have stalled," said Todd Watson, CEO of ITN. "This launch delivers the ease, visibility, and automation that will define the future of linear TV."

Matt McLeggon, SVP of Advanced Solutions at Magnite, added that the partnership "brings programmatic buyers closer to local linear TV inventory and makes it much easier to holistically activate, manage, and measure their total video advertising investments."

Jennifer Hungerbuhler, Chief Publisher Direct Officer at Dentsu, described the development as technology "that has the potential to revolutionize the local TV workflow."

According to the press release statement, future enhancements will include advanced capabilities for spot TV, direct-to-station access, more precise audience targeting, and specialized features for key verticals such as political advertising.

ITN specializes in automated activation technology for local TV, while Magnite operates as the largest independent sell-side advertising company. With $685 million in revenue over the last twelve months and a positive net income, Magnite is considered slightly undervalued according to InvestingPro Fair Value metrics. Investors should note that Magnite will report its next earnings on November 5, with analysts maintaining a strong buy consensus. InvestingPro offers a comprehensive research report on Magnite among its 1,400+ deep-dive analyses, providing clear insights beyond what’s covered in this news.

In other recent news, Magnite has reported strong second-quarter results, with net revenue excluding traffic acquisition costs reaching $162 million, marking a 10% year-over-year increase. This performance exceeded Needham’s estimate by 3%, prompting the firm to raise its price target on Magnite stock to $25 while maintaining a Buy rating. Similarly, Evercore ISI raised its price target for Magnite to $27.25, citing the company’s solid performance despite macroeconomic uncertainties and guiding third-quarter results above Street expectations. In addition to financial updates, Magnite has amended its sublease agreement with Zillow Group to include an additional floor, effective November 1, 2025. The company also announced an integration with Acxiom, making Magnite Acxiom’s first programmatic partner for sell-side data activation, which aims to enhance addressable buying by reducing costs and eliminating unnecessary fees. Furthermore, Benchmark reiterated its Buy rating with a $31.00 price target, highlighting multiple organic growth opportunities for Magnite. These developments reflect the company’s ongoing strategic initiatives and growth prospects.

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