Wednesday, January 24, 2007

PRN to partner with Cgen in China?

While PRN, Thomson (their parent) and Cgen don't have any news about it up on their sites yet, this brief blurb in Forbes indicates that the two out-of-home media players will be working together in some form or other. PRN, known best for its Wal-Mart TV network, and Cgen, supplier of digital screens to the Carrefour chain of hypermarkets in China, would seem to overlap in every area except geographic location, so it will be quite interesting to see what form this partnership takes. The whole of the Forbes blurb is as follows:

Premier Retail Networks (PRN), a wholly-owned unit of publishing and information firm Thomson Corp, plans to form a joint venture with Shanghai Cgen Digital Media Network Co Ltd, the China Business News reported.

No financial details of the planned tie-up were provided.

Shanghai Cgen, a provider of in-store advertising in hypermarkets,received an investment injection of 24 mln usd earlier this month from several venture capital investors including DF Capital, Red Point venture and Sumitomo.

Tags: Cgen, PRN, Premier Retail Networks, digital signage, retail media

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