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 [e-mail]

(END) Dow Jones Newswires

October 23, 2023 09:36 ET (13:36 GMT)

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