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Digital advertising company ScreenFX has confirmed that is expanding through the acquisition of Screen Media Networks, in a move that will see the enlarged firm re-launch as Vision Media Group.
AIM-listed ScreenFX delivers outdoor advertising on large format digital screens, but, according to company reports, has struggled to attract major national advertisers in the face of competition from larger outdoor media owners. By bringing onboard Screen Media the firm is hoping to provide additional punching power in the market, as it will add an established network of 120 advertising screens in theme parks to its portfolio, in addition to plans to install 1,000 backlit six-sheet posters in roadside and convenience store locations. ScreenFX boss Mike Cottman believes the move will see the group swing into the black within the next year. He commented: “the critical mass that the acquisition of Screen Media Networks provides us with will, we believe, enable the enlarged group to produce a significant swing into profits at the EBITDA level within twelve months of the successful completion of the deal. “We are excited by the potential for the enlarged group.” The acquisition will be achieved through a shares-only deal that equates to 29.9% of the new group’s share capital. Vision Media Group will be looking to expand into new markets such as India, in tandem with increasing market share within the UK. http://www.screenfxplc.com/ Something to add? Then leave a comment below or email us now.
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