MediaMath gets OK of $14.9 million settlement, exclusivity extension

By Sarah Lizee

Olympia, Wash., Nov. 17 – MediaMath Holdings, Inc. secured approval of a settlement with Havas Media Group USA LLC and a 90-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to documents filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The settlement provides for a payment of $14.9 million to the debtors from Havas, a France-based advertising and public relations company.

The court extended the exclusive plan filing period through Jan. 29 and the exclusive solicitation period through March 28.

The company said the complexity and relatively short duration of its Chapter 11 cases warrant the extension.

The debtors will continue focusing their efforts on negotiating, finalizing and filing a viable path forward, including by negotiating with the debtors’ first-lien agent regarding an exit strategy for emerging from bankruptcy, MediaMath said.

The New York-based company develops digital advertising media and data management technology solutions for advertisers. The company filed bankruptcy on June 30 under Chapter 11 case number 23-10882.

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