New York - CBS Corporation announced on Thursday that it will acquire SignStorey, a provider of video programming and advertising content to retail stores, for $71.5 million in cash.

Founded in 2000, Connecticut-based SignStorey has placed digital video terminals in more than 1,400 grocery stores -- the company has long-term contracts with Acme, Albertsons, Price Chopper and others -- which display both video programming and ads.

The company's revenues more than doubled year-over-year in 2006.

SignStorey will be renamed "CBS Outernet" after the deal closes, which is expected in the fourth quarter.

"Out-of-home digital media has become a crucial means by which we and advertisers can gain invaluable impressions in this crowded media landscape," said CBS Marketing Group president George Schweitzer.

Related Links:
http://tinyurl.com/2klka5

http://www.signstorey.com