VGI and Tesco Lotus to jointly manage advertisement space

Stocks and Financial Services Press Releases Monday November 17, 2014 10:30
Bangkok--17 Nov--MasterMind Communications

SET-listed ‘lifestyle out-of-home media’ market leader VGI Global Media Public Company Limited (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 OIfficer (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.

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