National CineMedia acquires Captivate Holdings in $275 million expansion beyond cinemas
National CineMedia has completed a $275 million purchase of Captivate Holdings, adding tens of thousands of office-building and elevator screens to its advertising network.
National CineMedia announced the closure of a $275 million transaction to buy Captivate Holdings, a network that powers digital screens in office buildings, lobbies and elevators. With Captivate’s assets, the firm will control roughly 48,000 out-of-home displays, complementing its existing 17,000 theater screens across more than 1,300 venues. CEO Thomas Lesinski said the acquisition advances the company’s strategy to build a broader premium video advertising platform.
The purchase is funded by a senior secured first-lien term loan, adding debt to the balance sheet. After emerging from bankruptcy in 2023, National CineMedia has been expanding, including an $8.2 million acquisition of Spotlight Cinema Network and the loss of equity stakes from AMC and Cinemark earlier this year. The company intends to bring its Noovie pre-show content, hosted by Maria Menounos, to the new office-based screens.
Why it matters
The acquisition expands a major theater ad firm into the growing digital out-of-home market, reshaping where advertisers reach consumers.
In this story
