Carlton Screen Advertising sold to Cineworld and Odeon
Cinema giants Cineworld and Odeon have joint forces to buy part of ITV’s stake in Carlton Screen Advertising (CSA).
CSA is the market leader for cinema advertising in the Republic of Ireland owning an 88% share of the cinema advertising market through exhibitor clients such as Ward Anderson, UCI, Cineworld, Movies@, Storm Cinemas, Moviehouse Cinemas and many Independents around Ireland.
The new firm formed by this venture, in which Cineworld and Odeon each hold a 50% stake, is called Digital Cinema Media (DGM).
Cineworld CEO Steve Wiener said: “I am delighted we have reached a mutually acceptable conclusion to negotiations with Carlton Screen Advertising and ITV. “DCM plans to develop a more flexible, targeted and timely service for advertisers and local businesses, who hitherto have not been able to make full use of advertising across the cinema sector.
Adam Mills, sales director at CSA, added: “This is positive news for CSA as firstly it will put our contracts with major exhibitors onto a more equitable footing and secondly, both Odeon and Cineworld are committed to providing a strong boost to the cinema advertising market by pledging to accelerate the roll-out of digital screens.”