Thomson, parent company of Grass Valley and Technicolor, is expanding its service base with a $285 million cash purchase of Premier Retail Networks (PRN).
San Francisco-based PRN provides in-store TV networks to more than 6,000 locations, including retail outlets Wal-Mart, Costco, Best Buy and Circuit City. The company says it reaches 200 million viewers each month. PRN will become part of Thomson's services division, home to post-production and digital media centers that playout content for clients. The sale will likely close in the fourth quarter.