New York-based out-of-home (OOH) advertising company Outfront Media Inc. and Bell Media announced Monday they have closed the sale of the former’s Canadian business to the latter for a purchase price of $410 million in cash, subject to certain purchase price adjustments.
The acquisition deal was initially announced in October 2023.
“This acquisition marks a significant milestone for Bell Media and solidifies our leadership position in the out-of-home space,” said Bell Media president Sean Cohan in a statement. “Our now expanded national inventory of both digital and out-of-home assets will drive even better, industry-leading results for our advertising partners.”
Bell Media already owned and operated the Astral OOH advertising network. Last week, it added Bell Ads for Business to its suite of advertising solutions.
