TORONTO, August 9 - OutdoorPartner Media Corporation ("OutdoorPartner" or the "Company") (TSXV: OPX) is pleased to announce that the Company has acquired substantially all of the assets of Mira Outdoor Media Inc. ("Mira") of Los Angeles, California. Mira operates on a network of 15,000 phone kiosks in the largest markets on the West Coast. Mira's primary customer base consists of local and regional clients in Los Angeles, San Francisco, Seattle, Las Vegas, and San Diego.
Mira's founder will be joining the OutdoorPartner team and will lead the development of the Company's local sales initiative nationwide.
"This acquisition will bolster OutdoorPartner's existing Southern California payphone kiosk advertising business servicing national advertisers with an established business model for serving local and regional advertisers in Southern California," stated Mark Brodkin, Chief Executive Officer of OutdoorPartner. "We are also extremely excited to add a seasoned executive with proven local sales success to drive the rollout of our local business nationwide."
Terms of the transaction were not disclosed.
About OutdoorPartner:
OutdoorPartner is a market leader in the emergent alternative out-of-home media segment. The Company operates two out-of-home media networks: a PartnerBin network and a payphone kiosk advertising network. PartnerBins - litter/recycling receptacles that facilitate advertising - are currently located in nine U.S. communities, including: New York City, St. Louis and Baltimore. OutdoorPartner's payphone kiosk advertising division, Prime Point Media, offers highly-targeted advertising plus PrimeCasting - a Bluetooth broadcast solution - on a network of over 700,000 payphone kiosks located in all of the top 50 designated market areas. More information may be found by visiting www.outdoorpartner.com or www.primepointmedia.com.
This news release contains forward-looking statements regarding, among other things, OutdoorPartner’s beliefs, plans, objectives, strategies, estimates, intentions and expectations. Such statements are based on a number of assumptions which may prove to be incorrect, involve certain risks and uncertainties that are difficult to predict and, accordingly, are not guarantees of future performance. The future results of the Company or developments may differ materially from those expressed in the forward-looking statements contained in this news release, due to, among other factors, OutdoorPartner’s lack of operating profits, its dependence on key personnel, general economic conditions and other external events that may impact on customers’ advertising spending, competition from other out-of-home advertisers and other media and government regulation seeking to limit or restrict OutdoorPartner’s activities. More detailed information about these and other factors is included in OutdoorPartner’s 2006 Annual Information Form and other documents published or filed by, or on behalf of, OutdoorPartner from time to time with the Canadian securities regulatory authorities. Other than as required by law, OutdoorPartner undertakes no obligation to publicly update or revise any such forward-looking statements or information, whether as a result of new information, future events or otherwise.
For further information: Mark Brodkin, CEO, OutdoorPartner Media Corporation, 296 Richmond Street West, Suite 305, Toronto, Ontario M5V 1X2, Canada, T: (416) 602-1602, F: (416) 352-5070, www.outdoorpartner.com