DETROIT — Gas Station TV, the Detroit-based TV programming provider for gasoline pumps, announced a 50-50 joint venture that combines the assets and operations of Verifone’s Pump Media division with GSTV, which is owned by Detroit-based Rockbridge Growth Equity and Falcon Investment Advisors.
The combined business will operate under the GSTV brand and deliver 3.3 billion annual impressions through more than 18,000 locations in all 50 states by year’s end.
The new GSTV will provide marketers with significant reach to a mass audience of 75 million unique viewers every month, including one-in-three adults 18 years and older and nearly 31 million millennials in the United States.
“We celebrate a milestone today as we formally join two leading media organizations in a powerful partnership,” said Joe Mach, president of Verifone North America. “Under the GSTV umbrella and with Verifone’s influential backing, we will draw on our collective partnerships and experiences to strategically accelerate growth, push the boundaries of technology, and deliver the proven effectiveness of video at the pump.”
“Our new joint venture with Verifone is a game-changer for the industry,” said David Leider, President and CEO of the new GSTV. “The scale of GSTV’s monthly unique viewership will compete with the largest cable networks and digital out-of-home platforms, reaching verified consumers when and where they are most receptive to real-time marketing messages. We are making it even easier for ad agencies to embrace gas video media, which provides unrivaled effectiveness in helping brands reach their business goals.”
The company will be located at the current GSTV headquarters in Detroit along with offices in New York and Los Angeles and other key business centers. Members of the existing GSTV and Verifone Pump Media management teams will lead the new joint venture. Both companies will have equal representation on the new company’s Board of Directors.
Financial terms of the joint venture were not disclosed.
GSTV viewers are offered sports from ESPN, news and entertainment from CNN’s Headline News, Buzz Today, and Fusion Now, business and personal finance reports from Bloomberg TV, weather updates from AccuWeather, trending and viral topics from What’s Trending, The List, and all things tech from CNet.
GSTV can be viewed throughout the country at leading gas retailers like Speedway, Circle K, Tesoro, Sunoco, BP, Chevron, Conoco-Phillips, Gulf, Arco, Marathon, Exxon-Mobil, Shell and Murphy USA.