OUTFRONT Media Completes Billboard Asset Swap
NEW YORK, July 5, 2017 /PRNewswire/ -- OUTFRONT Media Inc. (NYSE: OUT) announced today that it has completed an asset swap with Independent Outdoor Network. The Company acquired digital billboards in the Boston designated market area (DMA) in exchange for static billboards in four non-metro market clusters considered not strategic to its top DMA focus.
The acquired assets include 16 digital billboard displays, including two displays in-development, and two static billboard displays contiguous with the Company's existing portfolio surrounding the city of Boston. The divested assets include several hundred static displays in predominantly non-metro areas of Wisconsin, Missouri, Illinois, Tennessee and South Carolina.
About OUTFRONT Media Inc.
OUTFRONT Media connects brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its ON Smart Media platform, OUTFRONT Media is implementing digital technology that will fundamentally change the ways advertisers engage people on-the-go.
| Contacts: |
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| Investors: |
Media: |
| Gregory Lundberg |
Carly Zipp |
| (212) 297-6441 |
(212) 297-6479 |
SOURCE OUTFRONT Media Inc.
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