(Toronto) Bell Media announced Monday the signing of an agreement which will see it acquire the Canadian activities of the outdoor advertising company Outfront Media for 410 million in cash.
Bell Media Senior Vice President of Sales and Sports Stewart Johnston argued that the outdoor advertising category continues to gain importance as a mass advertising vehicle, while digital formats enable greater advertising capabilities. targeting.
Outfront Media’s Canadian business, which operated 9,325 screens nationwide at the end of 2022, generated sales of US$91.9 million throughout the year.
Outfront Media President and CEO Jeremy Male said the sale provides the company with additional financial flexibility as it focuses on its U.S. assets.
Bell Media, a subsidiary of BCE, owns television and radio stations as well as digital and out-of-home media assets.
The company says the deal is expected to close in 2024, subject to regulatory approval and other closing conditions.