Outdoor advertising market set for consolidation as buyers circle Clear Channel & Exterion Media
The European outdoor advertising market is set for a major shake-up following news that private equity firms TPG Capital and Blackstone are circling both Clear Channel and Exterion Media with a view to merging both businesses to leverage economies of scale.
The £2bn merger would see the former rivals put on the same team after Clear Channel’s European arm was placed on the market last year as its parent firm iHeartMedia struggles to pay down its debt.
In the UK it is a familiar presence on the side of bus shelters and roadside billboards and has been valued at around £1.6bn.
Exterion is a much smaller firm based in the UK after being wound out of media conglomerate CBS and is being lined up to provide immediate scale, although current owner Platinum Equity, has yet to commit to any deal.