Gannett Acquires Captivate Network Inc.
McLEAN, VA – Gannett Co., Inc. (NYSE: GCI) today acquired the assets of Captivate Network Inc., a national news and entertainment network that delivers quality programming and advertising on television screens in elevators in premier office towers across North America.
Terms of the deal were not disclosed.
“Anyone who has used an elevator with one of Captivate’s screens knows just how effective this company’s product is,” said Craig Dubow, president and CEO of Gannett Broadcasting. “We are pleased to add this innovative and fast-growing company to Gannett, and to provide this additional platform to our advertisers.”
Captivate’s management team will continue to run the company, Dubow said.
Mike DiFranza, president and general manager of Captivate, said: “We are excited to be part of an organization that has a demonstrated culture of innovation in the media marketplace. Captivate enables national advertisers to enhance their broadcast and print investments by delivering their message in a distraction free environment at a time of day when consumers are making personal and business buying decisions.”
Captivate Network currently has an estimated 1.4 million viewers of screens located in approximately 400 buildings in North America, with more than 1,000 buildings in 35 markets under contract. The company partners with a number of major media outlets to provide content to the screens.
For advertisers, Captivate is one of the most effective vehicles available, delivering nearly 30 million impressions per month and earning a high 45% ad recall, according to Nielsen Media Research in January/February 2002.
The company is located in Westford, MA. and at www.captivate.com.
Gannett Co., Inc. is a leading international news and information company that publishes 101 daily newspapers in the USA, including USA TODAY, the nation’s largest-selling daily newspaper. The company also owns more than 500 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom’s second largest regional newspaper company. Newsquest publishes more than 300 titles, including 17 daily newspapers, and a network of prize-winning Web sites. Gannett also operates 22 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the Web.
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