OUTFRONT Media to Divest its Canadian Business to Bell Media ...Middle East

NEW YORK and TORONTO, Oct. 23, 2023 /PRNewswire/ — OUTFRONT Media Inc. (NYSE: OUT) and Bell Media announced today that they have entered into an agreement to sell the Canadian business of OUTFRONT Media to Bell Media, a wholly-owned subsidiary of BCE (TSX, NYSE: BCE). The purchase price is C$410 million in cash, subject to certain adjustments and a holdback. The transaction is expected to close in 2024, subject to regulatory approval and other closing conditions. As of December 31, 2022, OUTFRONT Media’s Canadian business operated 9,325 total displays in the country and generated revenues of U.S. $91.9 million during that year. Jeremy Male, Chairman and Chief Executive Officer of OUTFRONT

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