CBS Acquires SignStorey

Author:
Publish date:
Social count:
0

CBS Corporation announced today that it has entered into a definitive agreement to acquire SignStorey, Inc., a leader in the distribution of video programming and advertising content to retail stores.

The purchase price is $71.5 million in cash. SignStorey will be renamed “CBS Outernet” upon closing of the deal and is expected in the fourth quarter of 2007, pending regulatory review. 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. The company’s revenues more than doubled year-over-year in 2006, and it has additional contracts and pilot programs in grocery accounts representing thousands of stores across the United States. As CBS Outernet, it will continue to expand its distribution network to other retail locations and shopping environments.

“CBS Outernet will offer our advertisers a tremendous, broad new platform to reach
consumers out of their homes,” said Leslie Moonves, President and Chief Executive Officer, CBS Corporation. “This acquisition is highly complementary with many of CBS’s content and advertising sales relationships. As we’ve seen with CBS’s outdoor business, the burgeoning use of digital advertising allows great flexibility in tailoring messaging to consumers, and can be efficiently controlled from a centralized location. At the same time, retail outlets will now have access to CBS’s wide array of national and local entertainment, news and sports content from across the Company.”

“We are extremely pleased to join the CBS family and to continue to develop a more
exciting shopping environment in local communities across the United States,” said Virginia Cargill, President and CEO of SignStorey. “Our state-of-the-art digital screens give consumers access to information where and when they want it; and the addition of CBS content, resources and contacts will make for an even richer experience for retailers, shoppers and advertisers alike.”

SignStorey benefits from strong relationships with retailers who partner with the company to provide enhanced in-store shopper experiences and to increase store sales and from advertisers seeking to reach consumers at their point of purchase. Among the Company’s top consumer packaged goods advertisers are: Johnson & Johnson, Colgate, General Mills, and Dannon. CBS has a pre-existing relationship with SignStorey since 2006 as part of the CBS Television Network’s promotion strategy.
“Out-of-home digital media has become a crucial means by which we and advertisers can
gain invaluable impressions in this crowded media landscape,” said George Schweitzer,
President of the CBS Marketing Group. “We began working with Virginia and her terrific management team to promote CBS’s fall lineup last summer as part of what we called our
‘Outernet’ strategy, which uses exclusive partnerships to expose CBS programming to
consumers outside their homes. We’ve achieved so much together already and now look
forward to all that is to come as the new CBS Outernet becomes part of the CBS family.”
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.

CBS Corporation (NYSE: CBS.A and CBS) is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The Company, through its many and varied operations, combines broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It has operations in virtually every field of media and entertainment, including broadcast television (CBS and The CW – a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime and CSTV Networks), local television (CBS Television Stations), television production and syndication (CBS Paramount Network Television and CBS Television Distribution), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS Interactive), music (CBS Records), licensing and merchandising (CBS Consumer Products) and video/DVD (CBS Home Entertainment). For more information: www.cbscorporation.com

Related

CBS Outdoor HD Poster

CBS Outdoor has unveiled the world’s first-ever high-definition video platform poster, the Video Two-Sheet, as part of HBO’s True Blood campaign. This New York transit advertising campaign is located at Times Square subway station, one of the world's most iconic, heavily trafficked subway stations. CBS Outdoor is lau

Hughes to Acquire Helius

On the heals of Helius’ acquisition of Gemini Software and PointCast last year, the first week of 08 brought the news that IP-savvy Helius is now being acquired–by a long time satellite and network delivery partner of Helius. Hughes Communications, Inc., provider of broadband satellite network solutions and a leading broadband managed network services provider, announced January 4th that it has entered into a definitive agreement to acquire Helius, Inc., a portfolio company of Canopy Ventures. The acquisition is expected to be completed on or about February 4, 2008. Upon completion of the acquisition, Helius will become a wholly owned subsidiary of Hughes and will operate closely with Hughes’ North America and International enterprise businesses...

PumpTop TV Teams Up With CBS Radio Personality Danny Bonaduce

“Psst, hey you. Yeah, you.” Those are the words of Danny Bonaduce, formerly of The Partridge Family TV show, now radio host in Philadelphia on CBS’s 94 WYSP. The entertainment star is announcing his appearance this week on PumpTop TV, the nation’s leading out-of-home digital media network reaching millions of motorist

BroadSign Acquires Navori

BroadSign International, Inc. (BroadSign), provider of hosted software for managing digital signage networks, announced Feb. 5th that it has entered into an agreement to acquire privately-held Navori International S.A. (Navori). The Switzerland-based company provides software solutions for closed digital signage networks. Financial terms of the agreement have not been disclosed. This acquisition reinforces BroadSign’s leadership as the premier software provider in the digital signage industry and expands the company’s presence in the European and Pacific Rim markets with a centrally located facility for sales, support and services staff. It also builds on the company’s leadership position in the expected industry consolidation and adds to BroadSign’s market share and vertical penetration...

Haivision Acquires CoolSign

Haivision has announced that it has acquired the assets of CS Software Holdings, LLC, including the CoolSign product technology. CoolSign, a veteran player in the digital signage market (established 1998), provides comprehensive software solutions for mission critical enterprise-ready signage deployments. With CoolSig

Pattison Outdoor Acquires Onestop Media Group

Pattison Outdoor Advertising Inc., a division of the Jim Pattison Group and Canada’s largest out-of-home media company, has announced it has acquired Onestop Media Group Inc., a privately-held digital-out-of-home media company. Founded in 2005, Onestop Media Group (Onestop) owns and operates Canada’s largest portfolio