Outfront Media Shares Rise 5.1% After Selling Canadian Business
October 23 2023 - 12:33PM
Dow Jones News
By Ben Glickman
Shares of Outfront Media rose after the company said it would
divest its Canadian business.
The stock was up 5.1% to $9.55 in Monday trading. Shares are
down 42% this year.
The New York-based outdoor advertising company said it would
sell its Canadian business to Bell Media, a subsidiary of BCE, for
410 million Canadian dollars ($298.9 million).
Outfront's Canadian business included 9,325 displays in 2022,
generating $91.9 million in revenue.
The deal is expected to close in 2024.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
October 23, 2023 13:18 ET (17:18 GMT)
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