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Newad, Zoom Media swap assets
Out-of-home media companies Newad and Zoom Media have entered into an agreement that will see the two firms swap a series of indoor advertising assets. Under the terms of the deal, Newad will acquire Zoom Media's inventory of display faces in restaurants, bars, fashion retailers, office buildings, medical waiting rooms and golf centres. In turn, Zoom Media will acquire Newad's displays in fitness centres.
The exchange will give Newad a total of 45,000 digital and static displays in 5,000 locations, receiving approximately 280 million impressions per month. Zoom Media will have 5,500 digital and static displays in 750 gyms, receiving approximately 25 million impressions per month.
According to the two companies, Newad will maintain Zoom Media's Quebec City office and work to facilitate the "optimal integration" of Zoom Media employees in its Toronto, Montreal, Vancouver, Calgary and Edmonton offices.
"This business strategy solidifies the missions of two companies who shared common networks for 20 years, but who today are setting their growth prospects on specific horizons," said Michael Reha, CEO of Newad. "The transaction will facilitate purchasing and targeted advertising placement. Newad [is] activating what is now the largest indoor advertising network of digital and static faces, while Zoom reaches the largest audience in fitness establishments also with its digital and static boards. The transaction is materializing because we believe, now more than ever, that indoor advertising solutions, especially when it comes to new technologies and digital developments, constitute one of the most relevant and high-performing marketing tools of Canada's advertising industry."