Sausalito, Calif.-based Public Media Works, Inc. and its wholly owned subsidiary, EntertainmentXpress Inc., announced today an agreement with Modular Conversions LLC to place up to 7,000 DVD movie and game kiosks in new convenience stores as major oil company-sponsored gas station conversions are completed over the next three years across the U.S.
The initial phase includes full funding for the installation of up to 1,500 EntertainmentXpress kiosks to be placed in West Coast locations. Modular Conversions, a construction management services firm working with major oil companies, is a specialist in a modular approach to bay conversions for high-traffic filling stations.
Modular Conversions created the turnkey concept for the c-store conversions with exterior construction and a modular interior store design that includes all components, fixtures and accoutrements, including the EntertainmentXpress DVD kiosk as a part of the proposed turnkey package.
These programs provide a pre-approval for financing for participating filling station operators. Financing for the conversions, over and above what may be subsidized by the oil companies, has been arranged by Modular Conversions through private lenders and a mutual fund, according to the construction company's COO, Jack Neal.
"(As) part of our overall funding arrangements for this venture, we are planning to allocate up to $154 million to fully finance as many as 7,000 kiosks placed and operated by EntertainmentXpress," Neal said.
EntertainmentXpress, a division of Public Media Works, provides a convenient way for consumers to buy or rent movies, games and other entertainment media through kiosks located in quick-serve food locations, grocery stores and other high-traffic, public venues.
