Tuesday, June 18, 2024

OUTFRONT Media and Bell Media Close the Sale of OUTFRONT Media’s Canadian Business

Tuesday, June 11, 2024

NEW YORK, June 10, 2024 — OUTFRONT Media Inc. (NYSE: OUT) and Bell Media Inc., a wholly-owned subsidiary of BCE Inc. (TSX, NYSE: BCE), have closed the sale of OUTFRONT Media’s Canadian business to Bell Media for a purchase price of C$410 million in cash, subject to certain purchase price adjustments.

Jeremy Male, Chairman and Chief Executive Officer of OUTFRONT Media, said: “The sale of our Canadian business illustrates the inherent value of our out-of-home assets, and will enable us to proactively reduce our financial leverage and also focus entirely on operating what is now a fully domestic business here in the United States.”

Sean Cohan, President of Bell Media, said: “This acquisition marks a significant milestone for Bell Media and solidifies our leadership position in the out-of-home space. Our now expanded national inventory of both digital and out-of-home assets will drive even better, industry-leading results for our advertising partners.”

About OUTFRONT Media Inc.
OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.

About Bell Media
Bell Media is Canada’s leading media and entertainment company with a portfolio of assets in premium video, audio, out-of-home advertising, and digital. This includes Canada’s most-watched television network, CTV; the largest Canadian-owned video streamer, Crave, with a premium add-on to include STARZ; a powerful suite of specialty channels; the most-trusted news brand, CTV News; Canada’s cross-platform sports leaders, TSN and RDS; leading out-of-home advertising network, Astral; Québec’s fast-growing conventional French-language network, Noovo; the country’s leading radio and podcast app, iHeartRadio Canada; and a range of award-winning original productions, brands, and services. As a content leader and partner in Sphere Media, Montréal’s Grande Studios, and Dome Productions, one of North America’s leading production facilities providers, Bell Media is committed to keeping Canadians entertained and informed.

Bell Media also offers best-in-class technology, marketing, and analytics support through Bell Marketing Platform, an omnichannel self-serve platform which includes Bell Analytics, Strategic Audience Management (SAM), and Bell DSP, in addition to advanced advertising solutions, including Linear Addressable TV, Addressable Audio, and ads on Crave. Bell Media is part of BCE Inc. (TSX, NYSE: BCE), Canada’s largest communications company. 1 Learn more at BellMedia.ca.

1 Based on total revenue and total combined customer connections.

Contacts:

 

OUTFRONT Media Inc.   

Bell Canada

Investors

Investors

Stephan Bisson

Thane Fotopoulos

Investor Relations

Investor Relations

(212) 297-6573

(514) 870-4619

stephan.bisson@OUTFRONT.com   

thane.fotopoulos@bell.ca

Media

Media

Courtney Richards

Kaitlynn Jong

Communications & Event Manager

Manager, Digital and Strategic Communications

(646) 876-9404

(647) 456-7487

courtney.richards@OUTFRONT.com

Kaitlynn.jong@bellmedia.ca

Published on Tuesday, June 11, 2024 at 1:43 PM

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