BCE Expands Out-of-Home Ad Business in C$410 Million Acquisition of Outfront Media's Canadian Arm
October 23 2023 - 8:51AM
Dow Jones News
By Adriano Marchese
BCE is set to acquire the Canadian business of U.S.-based
outdoor media company Outfront Media for 410 million Canadian
dollars, the equivalent of $298.9 million.
The agreement is between Bell Media, the mass-media arm of the
Canadian communications giant, and Outfront Media.
As part of the deal, Bell Media will acquire 9,325 total
displays across Canada which generated $91.9 million in revenue in
2022.
Senior Vice President of Sales and Sports of Bell Media Stewart
Johnston said the out-of-home category of media continues to grow
in importance as a mass reach advertising vehicle.
"Outfront's diverse array of Canadian assets reinforces Astral's
dedication to delivering impactful, multi-channel marketing
solutions, while accelerating Bell Media's digital strategy," he
said.
The transaction is expected to close sometime next year.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
October 23, 2023 09:36 ET (13:36 GMT)
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