National CineMedia to buy Captivate for $275 million
Deal expands National CineMedia's reach in out-of-home advertising with Captivate's airport and office networks.
National CineMedia Inc. agreed to acquire Captivate, an out-of-home advertising network, for $275 million in cash.
The transaction, subject to regulatory approvals and customary closing conditions, is expected to close in the second half of 2024. National CineMedia will fund the deal through existing cash and debt financing.
Captivate operates digital networks in airports, offices, and other high-traffic locations, reaching an estimated 20 million monthly viewers across North America. The acquisition aligns with National CineMedia's strategy to diversify beyond cinema advertising into broader out-of-home media channels.
National CineMedia, which filed for bankruptcy in 2023, emerged from Chapter 11 restructuring in January 2024 with a focus on expanding its advertising platforms. The company did not disclose financial terms beyond the purchase price.
Captivate's CEO stated the deal provides liquidity and growth opportunities under National CineMedia's ownership. Analysts noted the acquisition could enhance National CineMedia's competitive positioning in the fragmented out-of-home advertising market.
The combined entity will operate under National CineMedia, maintaining Captivate's existing leadership and operations.
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