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Bell Media signs deal to buy Canadian business of Outfront Media for $410 million

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Bell Media has signed a deal to buy the Canadian operations of outdoor advertising company Outfront Media Inc. for $410 million in cash.

THE CANADIAN PRESS/Sean KilpatrickStewart Johnston, senior vice-president, sales and sports at Bell Media, says the out-of-home advertising category continues to grow in importance as a mass reach vehicle, while digital formats allow for greater targeting capabilities.Outfront Media chair and chief executive Jeremy Male says the sale provides the company with additional financial flexibility as it focuses on its U.S. assets.

The company says the deal is expected to close in 2024, subject to regulatory approval and other closing conditions.Business groups call on Ottawa to intervene as St. Lawrence Seaway strike beginsEVs are getting easier to find -- but with price tags out of reach for many CanadiansIndigenous ownership of Trans Mountain must be 'material', prospective bidder saysA new report from Statistics Canada estimates how much parents will spend on children over the course of their lifetime.

 

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