OUTFRONT Media Announces Acquisition of Reynolds Outdoor Media

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Feb 02, 2016, 08:58 ET

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NEW YORK, Feb. 2, 2016 /PRNewswire/ -- OUTFRONT Media Inc. (NYSE: OUT), one of the largest out-of-home media companies in the U.S., announced today that it has acquired Reynolds Outdoor Media, Inc., a company with over 500 displays in the cities of Dallas and Houston, Texas, including kiosks, walls, and digital displays. All of the acquired assets are REIT qualified.

"We're pleased to be adding these very attractive, top-market, urban assets to our portfolio," said Jeremy Male, Chairman and Chief Executive Officer of OUTFRONT Media. "This acquisition significantly enhances our existing inventory in Dallas and Houston by augmenting our strong billboard presence with new coverage in vibrant, high-density, retail, entertainment, and business districts. These are precisely the kind of environments that can benefit from digitization and integration with our ON Smart Media platform to bring location-based mobile audience targeting to our advertising clients."

Weil, Gotshal & Manges LLP acted as legal advisor to OUTFRONT Media. RBC Capital Markets acted as financial advisor to Reynolds Outdoor Media and Locke Lord LLP acted as its legal advisor.

About OUTFRONT Media Inc.
OUTFRONT Media (NYSE: OUT), formerly CBS Outdoor, is one of the largest out-of-home media companies in the Americas and has a major presence in top markets throughout the United States, Canada, Mexico and South America. With billboard and transit properties, a prime asset focus, and a growing network of digital displays, OUTFRONT Media gives advertisers both breadth and depth of audience across key geographies, as well as engaging ways to connect with increasingly mobile consumers.