Gannett buys Captivate Network

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McLean, Va.--Gannett Co., publisher of USA Today, announced Friday that it has acquired the assets of Captivate Network, which places advertising on TV screens in office tower elevators.

Gannet will provide financial muscle to speed the expansion of Captivate in elevators across North America. Captivate said it currently has an estimated 1.4 million viewers of screens located in approximately 400 buildings in North America, with more than 1,000 buildings in 35 markets under contract.

"Anyone who has used an elevator with one of Captivate's screens knows just how effective this company's product is," Craig Dubow, president-CEO of Gannett Broadcasting, said in a statement.

Captivate’s management team, which is led by President-General Manager Mike DiFranza, will continue to run the company.

Financial terms of the deal were not disclosed.

--Sean Callahan

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