Retail AV company Mood Media ponders operational review and sale9 April 2013
In-store media specialist Mood Media has announced that it is exploring a number of alternative strategies to enhance shareholder value – one of which could be to sell the company. According to a statement, the board and senior management of the Toronto-headquartered company “have initiated a process to identify and consider a range of operational, financial and strategic alternatives [which] could include, among other things, enhancing the Company’s existing strategic plan, a strategic combination with a third party or a potential sale of the Company.” The statement added that, while it had received expressions of interest from would-be purchasers in the past, the company was not currently in discussions with any particular party. It also stated that the company would not discuss developments in this process until a definite course of action had been arrived upon. The announcement followed a few days after publication of the company’s 2012 financial results. While revenue increased 61% over the previous year, the company made a loss of US$£39.8m (compared with a loss of $51.7m in 2011). A recent high-profile European project for Mood Media was the AV fit-out of Primark’s flagship store in Oxford Street, London. This included overhead screens at the main entrance, projections behind the counters and a giant LED wall (featuring 2.9 million LEDs) surrounding the lifts.