Screenvision Acquires Assets of Cinema Screen Media
New York – (Jan. 23, 2007)
Agreement Expands Industry-Leading Cinema Advertising Network to Nearly 15,000 Screens Nationwide
Screenvision, a leader in cinema advertising services, today announced it has acquired the assets of Cinema Screen Media. The agreement includes the cinema advertising services contracts for exhibitors Harkins Theatres, Marcus Theatres and Classic Cinemas as well as digital projection equipment currently installed in the theatres of all three exhibitors. Terms of the agreement were not disclosed.
The agreement increases Screenvision’s industry-leading national advertising network to 14,854 screens and its local advertising network to 11,516 screens.
“These are premium theatres in important DMAs,” said Matthew Kearney, president and CEO of Screenvision. “We are a low-supply, high demand media and this acquisition adds valuable inventory to our network and grows our ability to deliver measurable results to national, regional and local advertisers.”
Harkins Theatres is based in Scottsdale, AZ, and operates 26 theatres with 344 screens, primarily in the Phoenix DMA. Under the agreement, Screenvision gains exclusive representation of Harkins Theatres for on-screen advertising and also gains rights to sell in-lobby promotional programs.
Marcus Theatres, based in Milwaukee, WI, operates 40 theatres with a total of 474 screens distributed in top DMAs including Milwaukee, WI, Chicago, IL and Minneapolis, MN. Under the agreement, Screenvision will represent Marcus for local on-screen advertising and gains non-exclusive rights to sell in-lobby promotional programs in Marcus theatres.
Classic Cinemas, based in Downers Grove, IL, operates 12 theatres with a total of 86 screens, primarily located in the Chicago, IL, DMA. Screenvision already holds exclusive rights to sell national on-screen advertising for Classic Cinemas and under the agreement gains exclusive rights to sell local on-screen advertising as well as rights to sell in-lobby promotions in Classic theatres.
“Each of these circuits adds strength to our network in the DMAs in which they compete,” said Darryl Schaffer, executive vice president of exhibitor relations for Screenvision. “This agreement is of particular value in adding to our local advertising inventory in top DMAs and contributes to the national roll-out of our digital network.” Including the screens attained under the agreement, Screenvision projects that more than 6,500 of its screens will carry the company’s high-definition digital network and air Screenvision’s digital entertainment preshow in 2007.
Headquartered in New York, N.Y., Screenvision is the world’s foremost cinema advertising company, offering on-screen advertising, in-lobby promotions and integrated marketing programs to national, regional and local advertisers and providing comprehensive cinema advertising representation services for its theatrical exhibitor partners. In the U.S., the Screenvision cinema advertising network is comprised of nearly 15,000 screens in over 2,300 theatre locations across all 50 States and 91% of DMAs nationwide, and delivers approximately 700 million consumer impressions annually through more than 150 theatrical circuits, including 10 of the top 15 exhibition companies. Screenvision is a joint venture between ITV plc (LSE: ITV), the UK’s largest commercial television network, and Thomson (Euronext Paris: 18453; NYSE: TMS), a global supplier of technology, services, and systems to the media and entertainment industries. For more information: http://www.screenvision.com.