Houston, TX –
February 21, 2007 Texas has emerged as one of
the most significant geographic markets for DVD rental
kiosks with the recent expansion by TNR Entertainment
Corp., the nation’s largest owner and operator
of DVD rental kiosks in supermarkets and grocery stores
operating under The New Release? brand. The Company
announced today that it has completed the installation
of an additional 51 automated DVD rental kiosks at high
traffic grocery stores throughout Texas. The new agreement
with a major food retailer, part of TNR’s ongoing
aggressive expansion program nationwide, increases TNR’s
installed base to nearly 400 kiosks in Texas and makes
the state one of the Company’s largest single
geographic markets.
“This new agreement will enable TNR to introduce
even more customers in Texas — our home base —
to the convenience and value afforded by the DVD kiosk
rental concept,” stated Jeff Karbowiak, COO of
TNR Entertainment. “Building on successful partnerships
TNR enjoys with grocery retailers reinforces the win-win
aspect of our business — a model that offers distinct
benefits to the consumer, the retail partner and TNR
as the vendor.”
The new kiosks are located throughout central and southern
Texas in Austin, Dallas, Houston, Laredo, Waco and surrounding
areas. For a complete listing of the Company’s
Texas and other supermarket and grocery store locations,
see the geographic search section of TNR’s website,
www.thenewrelease.com.
The New Release automated DVD rental kiosks provide
supermarket customers with a more convenient one-stop
shopping experience. As the Company’s kiosks are
being introduced in new markets, more consumers are
able to enjoy renting the latest DVD titles for $1-a-day
and no late fees or memberships — a simple and
affordable pricing structure that TNR was the first
to successfully market. TNR’s kiosks house up
to 1,000 units each, representing more than 200 titles,
including top new releases. The fully-automated kiosks
operate on a wireless communications network and next-generation
DVD kiosk operating system.
TNR has served nearly 1.3 million customers and rented
more than 9 million DVDs since its inception in 2002.
The privately-held company, based in Houston, dominates
the self-service DVD rental category in the grocery
channel. TNR currently has more than 1,300 locations
across the country in such grocery chains as A&P,
Dillon’s, Food-4-Less, Food Lion, Fry’s,
H-E-B, Kroger, King Soopers, Publix, Quality Food Centers,
Ralph’s, Roundy’s/Pick ‘N Save, and
Spartan/Family Fare.
Led by TNR Entertainment’s management team of
CEO Richard B. Cohen and COO Karbowiak, the Company’s
aggressive growth plans call for continuing national
expansion of its retail locations, in addition to the
three-fold increase of its kiosk network planned by
this year end, TNR completed a capital infusion of $45
million last year to support this major effort.
Based in Houston, Texas, TNR Entertainment Corp. is
backed by an institutional investor group including
Celerity Partners, LP of Los Angeles; Chapton Partners,
LP, a Houston family partnership; Laminar Direct Capital,
L.P., a member of the D.E. Shaw group of companies;
and MCG Capital Corporation (NASDAQ: MCGC), a leading
specialized financial services company and financial
advisor.
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