Juan Luis Cebrian, CEO of PRISA, and Robert Brazell, Chairman of Talos Partners LLC and of In-Store Broadcasting Network, LLC (IBN), will be holding a press conference at 3:00 pm on Wednesday, August 26th, in the Nasdaq main location. They will announce a joint venture to introduce retail media business in Spain, Portugal, and Latin America.
PRISA will provide experience in radio programming tailored to regional idiosyncrasies. Currently PRISA operates more than 1,200 radio stations in 10 countries, being leaders in Spain, Colombia, and Chile.
PRISA will also provide a broad news gathering organization with seasoned editorial experience in 22 countries, and high quality audiovisual production capacity in Spain, Portugal, and the U.S.
IBN will bring its patented technology for personalized in store communications that delivers music and interactive video in grocery and chain drug stores.
Currently, IBN leads the U.S. retail media with a presence in more than 13,500 stores nationwide and 150 million unique shoppers that hear its programming on a monthly basis.
In addition, Talos Partners is acquiring a 4.5% stake in PRISA by purchasing tranches at market price. They have also requested an option to buy up to 1,000,000 shares at EUR 6 per share. PRISA is currently evaluating how many shares would be subject to the option.
Talos Partners is a private merchant bank in New York City with assets of more than US$ 350 million. Its founder Robert Brazell is an experienced and successful entrepreneur who has started and operated such success full ventures such Overstock.com, ehow.com and Sandbox.com. For the last 15 years has been a vocal critic of the existing traditional business models used by media conglomerates in the US and in the world. Its partnership with PRISA is its first alliance with a media company.
PRISA is the largest education, information and entertainment company in the Spanish and Portuguese speaking world, with presence in 22 countries and an audience, readers and listeners of a total of 55 million.
Journalists interested in covering the conference should arrive before 2:45pm (EDT) at the NASDAQ Times Square office.
Location:
Nasdaq Times Square
4 Times Square
(Corner of 43rd Street and Broadway)
New York, NY 10036
CONTACT: Grupo PRISA
Communication
+34 91 330 10 79
comunicacion@prisa.es