Bassett Media Group buys tunnel advertising system
By Adnews Staff
Bassett Media Group of Toronto has signed an agreement to acquire the tunnel advertising system of Sidetrack Technologies for $3,000,000, minus unspecified liabilities. Sidetrack's system consists of displays installed in subway and railroad tunnels. Each ad consists of 360 sequential images that appear to be in motion as a viewer see them from inside a train, creating an animated ad lasting for approximately 15 seconds. The system is currently in use in San Francisco, Los Angeles, London, Mexico City, Monterrey and Rio de Janeiro. "The proposed Sidetrack acquisition marks a significant step toward Bassett Media becoming a global media company," said company president and CEO Matthew Bassett. "It will also provide the company with a platform to expand into other mass transit centres." The deal is expected to close before the end of the month.