We were the first to tell you last week that Neo Media Group (were) To Exit America [1] and now it’s official – a new strategy from them to concentrate on core markets in order to continue growth.
Christian Vaglio-Giors, CEO Neo Media Group told us “In one of the most important recessions the industry has faced for the last 30 years, it is important for a young media company such as Neo Media Group to concentrate its efforts and resources to markets where it already gained critical mass. I regret to abort our US development at this so early stage but I am confident that we will be back when market conditions are more favourable and equity money less expensive”.
This new strategy does not affect Neo Canada operations we are told officially.