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LOS ANGELES -- Convenience TV Inc. (CTVI) will purchase Go Media from HFT Management Inc. for $2 million cash. The deal is expected to close by the end of December.
Go Media will be incorporated under Convenience TV's C-Store Network Inc. division. Go Media provides several forms of static advertising, including on transit systems and billboards.
"For our part, CTVI has the capability and expertise to develop and support the project," said its president, Norman Knowles. "Our network not only connects advertised products directly to the customer through our system of convenience store locations, but that can also present valuable background content to enhance the knowledge of the customer."
HFT President Craig Heard added that the deal combines static advertising with a digital signage system that can help both companies.
Convenience TV Inc. delivers entertainment content and targeted advertising at convenience stores.