Business report

Stingray completes in-store purchase

TORONTO – The owner of radio stations such as “Boom 97.3” in Toronto and “Live 88.5” in Ottawa, which is present in the United States through its audio channels found on MVPD service providers such as Hot wire, Completed the acquisition of approximately US $ 46,642,450 of the largest in-store audio advertising network in the 50 states.

As a result, Ray, based in Montreal, now owns In-store audio network.

It is the entity headed by Gary Seem and Jeff Shapiro sold by Pop Radio LP for 59 million Canadian dollars.

Serving as a broker in the transaction is Richard A. Foreman and associates.

InStore says it reaches some 100 million shoppers each week at more than 16,000 grocery and drugstore retailers across the United States, including CVS, Rite Aid, Albertsons, Safeway, South-East Grocery Stores (Winn-Dixie), Ahold (Food Lion, Giant, Hannaford and Stop & Shop), focused on western New York Best markets, Pennsylvania Favorite country of the Netherlands Weis market and Brookshire, with more than 180 stores operating in Texas, Louisiana, Arkansas and Oklahoma.

The total price paid by Stingray is subject to a specific earn-out mechanism provided for in the purchase agreement.

“With this acquisition, Stingray expands its digital audio retail advertising footprint in the United States and reaffirms its position as a leading global provider of advanced digital media solutions,” said Stingray.

InStore will continue until the leadership and direction of its current management team, says Stingray.

Carina Newton, in North York