Medallion Acquires Japan's Largest Taxi Ad Company

  • July 24, 2001
Medallion Financial Corp., the largest taxi top advertising company in the world, announced that its Medallion Media division has completed the purchase of Taxi Media Network, ("TMN") the largest taxi advertising company in Japan.

TMN currently has the advertising rights on over 7,000 taxis in Tokyo, Osaka, Sapporo, and other major cities in Japan.

Andrew Murstein, President of Medallion Financial, said, "This acquisition increases our inventory by 70% and is a great opportunity for us to expand the Company throughout Japan.

"There are 12,000 taxis in New York, but there are over 50,000 in Tokyo alone," Murstein said. "Right now, none of Tokyo's taxis have taxi tops, as it is not permitted.

"Taxi Media Network is currently providing taxi top advertising in other cities but not in Tokyo, where they are just providing advertising on the doors, windows, and inside the taxis. The regulators in Tokyo, however, are exploring the possibility of permitting taxi top advertising there for the first time.

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