Smart Media Group Changes Ownership

M Core Ventures has acquired the shareholdings of Smart Media Group founder Mark Catterall and the company's other founding shareholders, giving the investment firm full ownership of the group that controls UK digital out-of-home media owner Smart Outdoor, according to DailyDOOH.

M Core Ventures first invested in Smart in July 2024 and has served as its principal backer since. At the time of that initial investment, the group's screen estate stood at around 450 displays. Smart Outdoor was founded by Catterall in Sunderland in 2019 and, within two years, was operating more than 220 screens across the North East of England and Scotland, reaching over 12 million people weekly. The network now exceeds 2,000 screens stretching from Edinburgh to London, spanning high streets, retail locations, leisure venues, sports stadiums and petrol forecourts.

Steve White, a non-executive director of the group and former Global Marketing Director at JD Sports, has been appointed Chief Executive Officer with immediate effect. M Core Ventures is also committing new capital to fund Smart's next stage of growth.

Max Percy, Chief Executive Officer of M Core Ventures, said: "Taking full ownership allows us to accelerate Smart's growth. The business has a strong network and a talented team, and closer integration with M Core's UK retail estate will open up new opportunities. We're excited about what it can achieve. We thank Mark for building a solid foundation and for his support through the handover."

The company stated that the transaction has no impact on Smart's day-to-day operations, client contracts or partner agreements, all of which continue as normal.