Outfront Media and Bell Media, a wholly-owned subsidiary of BCE, have closed the sale of Outfront Media’s Canadian business to Bell Media for a purchase price of C$410 million (€277m) in cash, subject to certain purchase price adjustments.

Jeremy Male, Chairman and Chief Executive Officer of Outfront Media, commented: “The sale of our Canadian business illustrates the inherent value of our out-of-home assets, and will enable us to proactively reduce our financial leverage and also focus entirely on operating what is now a fully domestic business here in the United States.”

Sean Cohan, President of Bell Media, added: “This acquisition marks a significant milestone for Bell Media and solidifies our leadership position in the out-of-home space. Our now expanded national inventory of both digital and out-of-home assets will drive even better, industry-leading results for our advertising partners.”

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Categories: Articles, Business, M&A

Tags: bell media, canada, outfront