News

RMG completes reverse merger, goes public

April 8, 2013

Reach Media Group Holdings Inc. a digital signage media and technology company, has completed a reverse merger with SCG Financial Acquisition Corp. The new public entity will do business as RMG Networks.

In a news release, SCG Chairman and CEO Gregory H. Sachs said the company's goal is to become a "premier platform for providing customers and partners intelligent visual communications solutions" in the fast-expanding and highly fragmented out-of-home digital signage space.

RMG Networks, which is based in San Francisco with offices in New York, Detroit, Chicago, Los Angeles and Beijing, operates a significant digital media advertising network in the air travel space, with more than 120,000 in-flight media screens, 2,200 aircraft and an audience of more than 35 million passengers per month. Its Mall Media advertising business reaches more than 62 million monthly viewers in 161 shopping malls across the United States.

The company works with global brands and their advertising agencies in industries such as consumer electronics, automotive, financial services and technology, to engage with elusive audience segments.

"Our strong positions in the air-travel and shopping mall out-of-home advertising markets give RMG Networks a strong platform for growth," said CEO Garry McGuire. "We believe this combination presents a significant opportunity for RMG and marks the start of an expanded business strategy to extend our footprint through organic growth, acquisitions and entry into adjacent markets."

The new company's stock symbol will change from SCGQ to RMGN.

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