Metro Chile goes multi-media
Publimetro Chile, subsidiary of Metro International SA, purchased 35% of SUBTV, as well as an option to acquire the remaining 65% in the future.
SUBTV delivers news, entertainment and information to subway commuters through television screens in stations and in train carriages in the capital Santiago. SUBTV was established 6 years ago, has 25 employees and reported a profit in 2007.
Robert Patterson, Executive Vice President of Metro International, stated: ‘there are significant synergies between Publimetro’s publishing business and SUBTV’s television business, since they are both targeting the same audience. In addition, the innovative transport system introduced in Santiago - Chile in early 2007 has doubled the number of passenger trips to 2.4 million per day and this has materially increased the attractiveness of SUBTV as an advertising medium’. (Metro press release)