Neo Media Group to pull U.S. operations
February 16, 2010
Neo Media Group, a digital-out-of-home network operator, has said it will scale down its development plan to improve growth in the core markets of the group. As a direct consequence, Neo Media Group has decided to freeze its U.S. development with immediate effect.
"In one of the most important recessions the industry has faced for the last 30 years, it is important for a young media company such as Neo Media Group to concentrate its efforts and resources to markets where it already gained critical mass," said Christian Vaglio-Giors, CEO Neo Media Group. "I regret to abort our U.S. development at this so early stage but I am confident that we will be back when market conditions are more favourable and equity money less expensive."