CanWest moves further into US mall advertising market
By Adnews Staff
A subsidiary of CanWest Global Communications of Winnipeg has purchased Foxmark Media of Chattanooga, TN. Foxmark owns the long-term rights to place static advertising in the 49 shopping malls owned by the Westfield Corporation as well as in 21 additional independent malls. The company was purchased by Eye Corporation, the out-of-home advertising subsidiary of The Ten Group, in which CanWest holds a controlling interest. Eye established a US-based subsidiary called Eye Shop Mall Media in June by buying the mall advertising division of Media Choice. Together with Foxmark, Eye will be able to offer an inventory of 3,800 advertising displays in approximately 300 US shopping malls. “In a few short months Eye has made several key strategic investments which has vaulted it into a leadership position in the world's most important retail economy and given CanWest a toehold in the lucrative US advertising market,” said Tom Strike, president of CanWest MediaWorks International. The Foxmark deal is expected to close in mid-December. No financial details are available.