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.

Latest Press Release

Photo Release: KBank teams up with PTTOR to offer first KBank Service at Cafe Amazon, PTT Service Station (Ekamai-Ramintra)

Ms. Jiraporn Khaosawas (1st from left), Chief Executive Officer and Managing Director of PTT Oil and Retail Business PCL. (PTTOR), and Mr. Patchara Samalapa, KBank President, recently introduced "KBank Service" or deposit service at Cafe Amazon, PTT...

SHREIT announces distribution for unitholders of 0.2561 baht per unit All three existing hotels continue to generate excellent revenues in past three months Results from first 10 months of 2018 yield total distribution of 0.5997 baht per unit

Strategic Hospitality Extendable Freehold and Leasehold Real Estate Investment Trust (SHREIT) on 19 November 2018 announced distribution payment for the past four months (1 August - 31 October 2018) to unitholders at the rate of 0.2561 baht per unit. And...

KTC joins forces with Bangkok Airways Airline in launching seven brand-new KTC Bangkok Airways credit cards beyond the power of boutique, all-in-one cards.

KTC jointly with Bangkok Airways, celebrate their 13th partnership anniversary and Bangkok Airways' 50th anniversary, transforming seven KTC – Bangkok Airways credit cards to cover all card alliance networks including MasterCard, VISA and JCB,...

SEC Dates CAZ Filing Plans to Sell 80 Million of IPO Shares To Increase Working Capital and Serve More Future Works

The Securities and Exchange Commission Thailand (SEC) dated the filing of CAZ (Thailand) Public Company Limited or "CAZ" for listing in the Market for Alternative Investment (MAI). The Company plans to sell 80 million of initial public offering (IPO)...

UnionPay Launches UnionPay Celebrating You Campaign Offering exclusive privileges that let customers save more this festive season

Photo Caption – Mr. Pingfu Zheng (third from left), Thailand Country Manager, Union Pay International and Mr. Thanakorn Puriwekin (second from left), Director and Chief Films Officer, Major Cineplex Group, attended the launch event for UnionPay...

Related Topics