WINNIPEG – Eye Corp, CanWest Global’s out-of-home ad company, today announced a major expansion into the U.S. retail market.
The company said today it has acquired 100% of the shopping mall advertising business previously conducted by Media Choice of Austin Texas. The purchase includes advertising rights at approximately 150 shopping mall properties in the United States, of which 14 are independent shopping malls and the remainder are part of the Simon Property Group.
Eye Corp. is a wholly owned subsidiary of The Ten Group, in which CanWest has a 56.4% ownership interest.
Eye has also entered into another major agreement in the U.S. to become the preferred media supplier of static and digital mall advertising solutions at an additional 56 malls operated by The Macerich Company, beginning January 1, 2007. The company’s American portfolio now includes over 200 shopping malls across 42 states.
Financial terms of the deals were not disclosed.
"This expansion by Eye Shop into America, the world’s largest retail market, is a major strategic move for the company, and follows the successful international expansion earlier this year of our airports group, Eye Fly, into major airport advertising contracts with Changi Airport in Singapore and with the three airports of the Manchester Airports Group in the UK," said Gerry Thorley, CEO, in a press release.
"Eye has spent the past 12 months carefully evaluating out-of-home business opportunities in the USA and this significant expansion of Eye Shop into North America is an indication of Eye’s intention to become a major out-of-home player in the U.S. and other international markets," added Tom Strike, president and CEO of CanWest MediaWorks International.
