PlayNetwork buys Channel M

PlayNetwork, which provides customized music to retail stores such as Bartell Drugs and Chili’s, has acquired Channel M in an effort to expand its efforts in the in-store video category. Terms of the deal were not disclosed, though the acquisition will give PlayNetwork a combined customer base of 185 retail brands representing 65,000 locations worldwide.

The company will operate under the PlayNetwork name and maintain offices in Redmond, Sherman Oaks, Calif., New York and Chicago. And Channel M founders David Teichner and Eric Hebel will join the newly-formed company in executive roles.

Channel M, which is based in Sherman Oaks, creates customized and highly-targeted TV experiences for retail stores such as Nordstrom, Marc Ecko and others.

PlayNetwork CEO Lon Troxel said in a statement that the deal will combine his company’s music, messaging and video media services with Channel M’s “rich video content production and advertising services.�

Once the deal closes, the new investor syndicate for PlayNetwork will include Chartwell Capital Management, Talon Asset Management, Joshua Green Corporation, as well as Vintage Fund Management, Ascend Venture Group and Intel Capital. – Techflash

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