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BANGKOK, Nov 18, 2014 - (ACN Newswire) - SET-listed 'lifestyle out-of-home media' market leader VGI Global Media PCL (VGI; SET:VGI) will share the management of advertising space within Tesco Lotus stores in Thailand with Tesco Lotus itself once VGI's current contract expires in February next year.
Tesco Lotus CEO Mr. John Christie confirmed today that final agreement has been reached with VGI whereby a Tesco Lotus subsidiary will manage advertisement for all the Sales-floor space in accordance with the policy of Tesco's UK-based parent company while VGI will be granted the rights to manage all the non Sales-floor space after the expiration of the current contract.
In addition to the non Sales-floor space which includes the parking lots, VGI will also be given the rights to manage new Pylon Signs to help compensate VGI for any loss of revenue, Mr. Christie stated.
VGI Chief Executive Officer (CEO) Mr. Marut Arthakaivalvatee welcomed the new mutually-beneficial arrangement, saying that VGI will continue to derive respectable revenue from the Modern Trade Media segment.
The latest arrangement which is considered a win-win for both VGI and Tesco Lotus has come after recent media reports that DunnHumby might take over all of Tesco Lotus' advertisement space after VGI's current contract expires in February 2015.
Contact:
VGI Global Media PCL
Investor Relations Department
Tel: +66-2273-8636; +66-2273-8639
E-mail: ir@vgi.co.th
MasterMind Communications Co Ltd
Orn-arong ("Fah") Pattaravejkul
Tel: +66-2612-2081 #129
Mobile: +66-8-6884-4458
E-mail: orn_tabo@hotmail.com
Topic: Contract Awarded
Source: VGI Global Media PCL
Sectors: Daily Finance, Broadcast, Film & Sat
https://www.acnnewswire.com
From the Asia Corporate News Network
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