Newad acquires Media One assets
Out-of-home media company Newad has acquired the assets of Media One. No financial details are available. "This strategic acquisition is in line with our growth objectives in Toronto and Canada as a whole," said Philippe Marchessault, executive vice-president of operations, development and innovation at Newad. "With the integration of over 500 new establishments to our current network, Newad's network now comprises over 3,000 businesses from coast to coast. This transaction with Media One reinforces and consolidates Newad's privileged positioning in Ontario and Canada, as we continue our sustained growth in an environment that is highly competitive, even fragile for certain competitors." Media One president Lino Ricco has joined Newad as vice-president and regional general manager for central Canada. Ricco, one of the co-founders of Newad, left the firm to found his own company in 1997.