Screenvision snapped up for $93.3 million in cash
Carlton Communications announced on Monday (22 May) it has bought top US movie advertising company Screenvision for $93.3 millon (£63 million) in cash.

Carlton, which already owns leading UK cinema advertising outfit Carlton Screen Advertising, aims to use the purchase to target the as-yet-undeveloped US market. The deal is part of Carlton's plans to boost its core businesses ahead of a proposed flotation with United News & Media, a deal currently under the consideration of the competition authorities.

Screenvision accounts for more than 65 per cent of the US screen advertising market, selling advertising in 32 per cent of cinemas with monthly audiences of 44 million.

Carlton chairman Michael Green said: 'Cinema advertising in the US has huge growth potential. The US box office has hit a 30-year high, yet the advertising market is totally undeveloped. Screenvision has a significant presence in America and we have the expertise to expand the business.'