Bell Media buying Outfront Media’s Canadian OOH advertising business

NEW YORK and TORONTO – Out-of-home (OOH) advertising company Outfront Media Inc. has agreed to sell its Canadian business to Bell Media for $410 million in cash, subject to certain adjustments and a holdback, the two companies announced Monday. The transaction is expected to close in 2024, subject to regulatory approval and other closing conditions, the companies’ joint press release says. Bell Media already owns and operates the Astral OOH advertising network, which has more than 45,000 advertising displays across Canada, according to Bell Media’s website. As of Dec. 31, 2022, Outfront Media’s Canadian business operated 9,325 total displays in Canada and...