HOUSTON, Nov. 29, 2006 (PRIME NEWSWIRE) -- The greater Atlanta area has been targeted for one of the biggest single geographic expansions by TNR Entertainment Corp., the nation's largest owner and operator of DVD rental kiosks in supermarkets and grocery stores, which has just completed the installation of 170 new kiosks in Kroger stores throughout the region. Operating under The New Release(tm) brand, the Company's newly established Atlanta presence is a cornerstone of TNR's aggressive expansion efforts nationwide.
"The growth and vitality of Atlanta and surrounding areas make it a ideal choice for one of our largest geographic market installations," stated Jeff Karbowiak, Chief Operating Officer of TNR Entertainment. "This major new market for TNR is not only a significant extension of our strong relationship with Kroger, but it also allows us to introduce The New Release's unmatched convenience and value that automated DVD rentals can deliver to more of their customers."
The new kiosks are located throughout Atlanta, and in Canton, Decatur, Douglasville, Dunwoody, Fayetteville, Gainesville, Jonesboro, Lawrenceville, Marietta, Newnan, Roswell, Smyrna, and Tucker, among other sites. For a complete listing of the Company's Atlanta and other Georgia supermarket and grocery store locations, see the geographic search section of TNR's website, www.thenewrelease.com.
TNR is currently underway on a substantial expansion nationally, adding more than 1,300 kiosks across 25 markets nationwide by early next year and more than doubling its current network. TNR's recent growth has been propelled by the company's partnership with The Kroger Co., which has agreed to install additional The New Release automated DVD rental kiosks at Kroger and subsidiary locations across the country, including Atlanta.
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 has served nearly one million customers and rented more than five 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 serves over 200,000 customers monthly across more than 850 locations in such grocery chains as A&P, Food Lion, H-E-B, Kroger/King Soopers, Publix, Roundy's/Pick 'N Save, Safeway/Randall's and Spartan/Family Fare.
Led by TNR Entertainment's new management team of Richard Cohen, Chief Executive Officer, and Karbowiak as COO, the Company's aggressive growth plans, in addition to the national expansion of its retail locations over the near term, call for quadrupling its kiosk network by the 2007 year end. TNR also recently completed a capital infusion of $45 million 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.
Note to Photo Editors: A photo is available via e-mail upon request. Please call 310-472-7632.