Bell closes deal to buy Outfront Media's Canadian business, must sell 669 ad spaces [Financial Post (Toronto, Ontario, Canada)]
OUTFRONT Media Inc. (OUT)
Last outfront media inc. earnings: 2/25 04:03 pm
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Source: Financial Post
The Competition Bureau says Bell Media must sell nearly 700 advertising displays in Ontario and Quebec as a condition of its $410-million acquisition of outdoor advertising company Outfront Media Inc.'s Canadian operations. The watchdog's ruling Monday comes as the BCE Inc. subsidiary announced the deal's closure. First announced last October, Bell had agreed to take over 9,325 advertising displays owned by Outfront Media's Canadian arm, which has since been rebranded Outedge Media Canada. Article content The bureau said its investigation concluded the merger was “likely to substantially lessen competition” in Quebec City, Trois-Rivieres, Sherbrooke and the Greater Montreal and Toronto areas. “Outedge and Bell vigorously competed with one another in these markets where there are a limited number of rival suppliers of outdoor advertising services,” the bureau said in a statement. “The loss of that rivalry would have resulted in higher prices and fewer options for customers.
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News
- OUTFRONT Media (OUT) Sells its Canadian Business to Bell Media [Yahoo! Finance]Yahoo! Finance
- BCE's Bell Media Acquires OUTFRONT's Canada-Based Business [Yahoo! Finance]Yahoo! Finance
- Bell closes deal to buy Outfront Media's Canadian business, must sell 669 ad spaces [Yahoo! Finance Canada]Yahoo! Finance Canada
- OUTFRONT Media and Bell Media Announce Closing of the Sale of OUTFRONT Media's Canadian Business [Yahoo! Finance]Yahoo! Finance
- OUTFRONT Media and Bell Media Announce Closing of the Sale of OUTFRONT Media's Canadian BusinessPR Newswire
OUT
Earnings
- 5/2/24 - Miss
OUT
Sec Filings
- 6/14/24 - Form 8-K
- 6/10/24 - Form 4
- 6/10/24 - Form 4
- OUT's page on the SEC website