Friday, September 07, 2007

CBS purchases Sign Storey

In a major vote of confidence for the rapidly growing OOH industry, CBS Corp. this on late Thursday that it will acquire SignStorey, Inc., a distributor of video programming and ad content to retail stores. The purchase price is 71.5 million in cash. SignStorey will be renamed "CBS Outernet" upon closing of the deal which is expected in Q4. With digital video displays in more than 1,400 grocery stores in major markets across the United States, SignStorey offers advertisers the opportunity to reach consumers with targeted content that can be customized by region and by daypart. The company's satellite-delivery system enables immediate, customized programming and messaging to each individual system. SignStorey has long-term exclusive contracts with SuperValu (Acme, Albertsons, Jewel and Shaw's), Pathmark, ShopRite and Price Chopper, among others, and is currently installed in six of the top 10 markets in the U.S., with traffic of more than 72 million consumers every month. CBS has significant experience in programming for out-of-home audiences. In addition to SignStorey, current partners in this regard include American Airlines/CBS Eye on American, Royal Caribbean/CBS Eye on Royal Caribbean; AutoNet TV/Rev It Up; Salon Network Channel; Starwood Hotels/SPG TV; Indoor Direct; Mall of America; On Spot Digital/Simon Malls and Ripple TV/CBS Outdoor, among others. Link: Wall Street Journal Sept 07, 2007 - Checking Out CBS in the Checkout Line (subscription)

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