BCE Expands Out-of-Home Ad Business in C$410 Million Acquisition of Outfront Media's Canadian Arm
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)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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