HOUSTON, Oct. 3, 2006 (PRIMEZONE) -- Veteran marketing executive Tony Sciolla has been named as Chief Marketing Officer for TNR Entertainment Corp., the nation's largest owner and operator of self-service DVD rental kiosks in supermarkets and grocery stores under the name The New Release(tm). The announcement was made today by Richard B. Cohen, Chief Executive Officer of TNR Entertainment.
"Tony Sciolla's breadth of expertise in virtually all aspects of marketing -- from strategic brand building, market/customer segmentation, and competitive analysis to demand oriented on and offline advertising and promotions -- makes him an exceptional asset to TNR, particularly at this critical stage of our growth," Cohen stated. "We wanted a results-driven business builder as well as a proven marketing executive, and Tony fits the bill perfectly."
Sciolla's more than 25 years of marketing experience encompasses work in various executive capacities on behalf of Quaker Oats Company, BBDO & DDB Needham Worldwide Advertising, Miller Brewing Company, the National Football League, Upper Deck Trading Cards, and Buy.com. Most recently, he was Senior Vice President and General Manager for Equity Management, Inc., the leading corporate trademark and licensing agency in the world.
In his newly-created position, Sciolla will be responsible for implementing and overseeing all of TNR's marketing and branding initiatives, following the Company's recently expanded partnership with The Kroger Co., which has agreed to install additional TNR automated DVD rental kiosks at 1,300 selected locations across the country. The new locations will make TNR a national company, with deployment of the added kiosks under the new Kroger agreement expected to be completed by the first quarter of 2007. TNR also recently completed a capital infusion of $45 million to support this major expansion into nationwide markets, which will more than double TNR's installed base and establish the Company in 25 new geographic markets.
"Joining TNR is a great opportunity to bring my skills to a company that has not only established itself as a leader in four short years, but has huge potential for explosive growth in the months and years ahead," Sciolla said. "I couldn't be more excited in terms of the possibilities to expand awareness and consumer demand for The New Release brand/DVD rental kiosks and working with our retail partners."
Sciolla graduated from the University of Pennsylvania. He and his wife have three children.
Privately-held TNR, based in Houston, dominates the self-service DVD rental category in the grocery channel, having served nearly one million customers and rented more than five million DVDs since its inception in 2002. Led by TNR Entertainment's new management team of Cohen and Jeffrey Karbowiak, Chief Operating Officer, the Company has launched an aggressive expansion of its retail locations this year with the goal of quadrupling its kiosk network by 2007. TNR currently serves over 200,000 customers monthly across more than 600 locations in such grocery chains as A&P, Food Lion, H-E-B, Kroger/King Sooper, Publix, Roundy's/Pick 'N Save, Safeway/Randall's and Spartan/Family Fare.
The New Release automated DVD rental kiosks provide supermarket customers with a more convenient one-stop shopping experience. As the Company's kiosks are introduced in new markets, more consumers will be 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 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.