Two of the nation’s largest digital out-of-home networks are joining forces, with Tuesday’s announcement that Premier Retail Networks -- which operates digital out-of-home displays in big-box retailers throughout the U.S., including thousands of venues owned by Wal-Mart, Albertsons, Costco, Meijer, Pathmark, Sam’s Club, ShopRite, and Target -- has formed a joint venture with indoorDirect, which owns the Restaurant Entertainment Network, serving quick-service restaurants including certain Taco Bell, Wendy’s, Denny’s, Carl’s Jr., Hardee’s and Arby’s.
Under the terms of the deal, PRN is receiving a 50% stake in the new joint venture, in return for an undisclosed capital investment. The other 50% of the joint venture will be owned by investors led by Syncom Venture Partners.
The joint venture will be led by indoorDirect co-founder Michael Winton and board member Charlie Rutman. PRN will take over management of all advertising sales, programming and network operations for the joint venture.
A portion of the investment will go to expanding the footprint of indoorDirect’s DOOH network serving quick-service restaurants. indoorDirect’s Restaurant Entertainment Network should grow from around 1,200 quick-service restaurants to 2,500 by the middle of the year.
This is just the latest in a series of deals giving PRN responsibility for ad sales for other digital out-of-home networks.
Last week, Provision Interactive Technologies tapped PRN to provide advertising sales, creative strategy, programming and custom content for Provision’s interactive 3D kiosks, which are set to begin rolling out in big retail venues nationwide.