Houston, TX – April 10, 2007
TNR Entertainment Corp., the nation’s largest
owner and operator of DVD rental kiosks in supermarkets
and grocery stores, announced today that it has installed
75 more of its The New ReleaseÔ automated DVD
rental kiosks at Publix supermarkets in Georgia, Tennessee,
South Carolina and Alabama. With these new installations,
TNR has established a significant base in the Southern
United States, a territory which represents approximately
one-third of the Company’s total installed base
of 1,600 kiosks nationwide at the end of the first quarter
2007.
Jeff Karbowiak, COO of TNR, said, “Our successful
partnership with Publix Super Markets in its Florida
and Georgia stores has led to this expanded relationship,
one which we look forward to building upon. This is
another phase of our aggressive national expansion and
also provides TNR with significant economies of scale
in serving our rapidly growing Southern regional operations.”
TNR’s new kiosks are located in Publix supermarkets
in various locations in Georgia, including Atlanta,
Marietta, Columbus, Athens, and Augusta, among others.
In addition, TNR is installing DVD rental kiosks in
Publix stores in Tennessee (Nashville, Franklin, Brentwood,
and other sites); South Carolina (Charleston, Greenville,
and other sites); and Alabama (Birmingham, Madison,
Homewood, and other sites). For a complete listing of
the Company’s 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 — 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 is currently underway on a significant national
expansion program, nearly doubling its current network
of DVD rental kiosks across 30 states by the end of
2007. The Company has served nearly 2.0 million customers
and rented more than 9 million DVDs since its inception
in 2002. Privately-held TNR, based in Houston, dominates
the self-service DVD rental category in the grocery
channel. The Company currently has more than 1,600 locations
in such grocery chains as 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’s management team of CEO Richard B.
Cohen and Karbowiak, the Company’s aggressive
growth plans call for continuing national expansion
of its retail locations, in addition to the doubling
of its current 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.
|
