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CBS has made a deal to acquire a leader in ad-supported video programming in the retail marketplace, Fairfield, CT-based SignStorey. The deal comes at a time of explosive growth for the out-of-home television market, writes MediaPost.
CBS plans to rebrand SignStorey as CBS Outernet. SignStorey currently has displays in more than 1400 grocery store chains in major markets throughout the U.S., and has long-term contracts with SuperValu (owners of Acme, Albertsons, Jewel and Shaws), Pathmark, ShopRite and Price Chopper.
The $71.5 million deal makes sense for CBS, which has already been a provider of content for SignStorey. SignStorey boasts traffic of more than 72 million consumers a month, and revenues more than doubled in 2006 over the previous year.
This is the first time a major television network company has owned a place-based media network since the early 1990s, when NBC folded its NBC On-Site venture.
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