Combined network offers businesses a highly
effective platform for engaging with on-the-go consumers
Gas Station TV (GSTV), America’s leading video network at the
pump, and Verifone (NYSE: PAY), a world leader in payments and
commerce solutions, today announced a 50-50 joint venture that
combines the assets and operations of Verifone’s Pump Media
division with GSTV, which is owned by Detroit-based Rockbridge
Growth Equity and Falcon Investment Advisors. The combined business
will operate under the GSTV brand and deliver 3.3 billion annual
impressions through more than 18,000 locations in all 50 states by
year’s end.
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On par with other major media brands, the new GSTV will provide
marketers with significant reach to a mass audience of 75 million
unique viewers every month, including one-in-three adults 18 years
and older and nearly 31 million millennials in the United States.
National and regional marketers across all industry sectors now
have a simple and effective way to reach valuable, highly attentive
consumers in an increasingly fragmented media environment.
“We celebrate a milestone today as we formally join two leading
media organizations in a powerful partnership,” said Joe Mach,
President of Verifone North America. “Under the GSTV umbrella and
with Verifone’s influential backing, we will draw on our collective
partnerships and experiences to strategically accelerate growth,
push the boundaries of technology, and deliver the proven
effectiveness of video at the pump.”
Leading third party analytics partners have repeatedly shown
that campaigns on the GSTV platform deliver compelling ROI for top
global brands. From double-digit increases in quick service
restaurant visitation to millions of dollars in incremental
consumer packaged goods sales, and significant increases in
awareness and purchase intent, GSTV’s sophisticated data solutions
align with advertiser demand for transparency and accountability in
their media budgets.
“Our new joint venture with Verifone is a game-changer for the
industry,” said David Leider, President and CEO of the new GSTV.
“The scale of GSTV's monthly unique viewership will compete with
the largest cable networks and digital out-of-home platforms,
reaching verified consumers when and where they are most receptive
to real-time marketing messages. We are making it even easier for
ad agencies to embrace gas video media, which provides unrivaled
effectiveness in helping brands reach their business goals.”
Additional Joint Venture Highlights:
- The company will be located at the
current GSTV headquarters in Detroit along with offices in New York
and Los Angeles and other key business centers.
- Members of the existing GSTV and
Verifone Pump Media management teams will lead the new joint
venture.
- Both companies will have equal
representation on the new company’s Board of Directors.
- GSTV is owned by Rockbridge Growth
Equity and Falcon Investment Advisors.
- Sullivan & Cromwell served as legal
counsel for Verifone.
- Honigman Miller Schwartz and Cohn LLP
served as legal counsel for GSTV.
- Peter J. Solomon Company acted as a
strategic advisor on the deal and Stephens Inc. arranged the
financing.
- Financial terms of the joint venture
were not disclosed.
About the New Gas Station
TV
Gas Station TV (GSTV) is the largest and most sophisticated
national video network reaching active consumers. Delivering the
hard to reach, on-the–go consumer, GSTV delivers one-on-one
exposure to hundreds of millions of viewers every month at the
nation’s leading gas retailers across the United States.
Offering an industry-leading experience, GSTV engages,
influences and drives consumers to action on behalf of its
advertisers and gas retailers with exclusive content. Viewers are
offered engaging segments including sports from ESPN, news and
entertainment from CNN’s Headline News, Buzz Today, and Fusion Now,
business and personal finance reports from Bloomberg TV, weather
updates from AccuWeather, trending/viral topics from What’s
Trending, The List, and all things tech from CNET.
GSTV can be viewed throughout the country at leading gas
retailers like Speedway, Circle K, Tesoro, Sunoco, BP, Chevron,
Conoco-Phillips, Gulf, Arco, Marathon, Exxon-Mobil, Shell and
Murphy USA.
For more information, please visit GSTV.com or engage with us on
Twitter @GasStationTV, Facebook.com/GasStationTV or
LinkedIn.com/company/Gas-Station-TV.
About Verifone
Verifone is transforming everyday transactions into
opportunities for connected commerce. We’re connecting payment
devices to the cloud—merging the online and in-store shopping
experience and creating the next generation of digital engagement
between merchants and consumers. We are built on a 35-year history
of uncompromised security with approximately 30 million devices and
terminals deployed worldwide. Our people are trusted experts that
work with our clients and partners, helping to solve their most
complex payments challenges. We have clients and partners in more
than 150 countries, including the world’s best-known retail brands,
financial institutions and payment providers.
Verifone.com | (NYSE: PAY) | @verifone
About Rockbridge Growth
Equity
Founded in 2007, Rockbridge Growth Equity, LLC is a Detroit,
Michigan-based private equity firm that invests in financial and
business services, consumer-direct marketing, and sports, media
& entertainment industries. Rockbridge owns equity stakes in
Northcentral University, Protect America, Connect America, Rapid
Advance, Gas Station TV, ABUV Media and Robb Report, and is
affiliated with other leading businesses in its target sectors
including Quicken Loans, the 2016 NBA champion Cleveland Cavaliers,
Title Source and Fathead. Since its inception, Rockbridge Growth
Equity has managed more than $500 million of equity in its
portfolio of companies. For more information on Rockbridge Growth
Equity, visit www.rbequity.com.
About Falcon Investment
Advisors
Falcon is a private equity firm that invests subordinated debt
and equity capital in leading middle-market companies. With more
than $2.6 billion of capital under management and an experienced
investment team, Falcon is a responsive and resourceful financing
partner. Falcon provides $25–$75 million of capital per transaction
and is investing through its current fund, Falcon Strategic
Partners V, LP.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 for VeriFone Systems, Inc.
This press release includes certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on management's current
expectations or beliefs and on currently available competitive,
financial and economic data and are subject to uncertainty and
changes in circumstances. Actual results may vary materially from
those expressed or implied by the forward-looking statements herein
due to changes in economic, business, competitive, technological
and/or regulatory factors, and other risks and uncertainties
affecting the operation of the business of VeriFone Systems, Inc.,
including many factors beyond our control. These risks and
uncertainties include, but are not limited to, those associated
with: the ability of the new petro media joint venture to
successfully attract meaningful digital media advertising for its
expanded network of screens, execution of our strategic plan and
business initiatives and whether the expected benefits of our plan
and initiatives are achieved, short product cycles and rapidly
changing technologies, our ability to maintain competitive
leadership position with respect to our payment solution offerings,
our assumptions, judgments and estimates regarding the impact on
our business of the continued uncertainty in the global economic
environment and financial markets, our ability to successfully
integrate acquired businesses into our business and operations, our
ability to protect against fraud, the status of our relationship
with and condition of third parties such as our contract
manufacturers, distributors and key suppliers upon whom we rely in
the conduct of our business, our dependence on a limited number of
customers, the conduct of our business and operations
internationally, our ability to effectively hedge our exposure to
foreign currency exchange rate fluctuations, and our dependence on
a limited number of key employees. For a further list and
description of the risks and uncertainties affecting the operations
of our business, see our filings with the Securities and Exchange
Commission, including our annual report on Form 10-K and our
quarterly reports on Form 10-Q. The forward-looking statements
speak only as of the date such statements are made. Verifone is
under no obligation to, and expressly disclaims any obligation to,
update or alter its forward-looking statements, whether as a result
of new information, future events, changes in assumptions or
otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20170412005360/en/
VerifoneKwiyoung BaumgartenKwiyoung.Baumgarten@VERIFONE.comorGas
Station TVVioleta IvezajVioleta.Ivezaj@gstv.com
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