JCDecaux has reinforced its position as the biggest global Out of Home operator by agreeing to buy Clear Channel’s operations in Spain and Italy. US-based Clear Channel has put OOH operations up for sale as it retrenches, with bids expected at some stage for its large UK business.
JCD is paying a relatively bargain basement €75m for the two businesses. JCD co-CEO Jean-Charles Decaux says: “These two independent acquisitions are part of JCDecaux’s selective external growth strategy. The acquisition of Clear Channel’s businesses in Italy and Spain (subject to standard regulatory approval in the case of Spain) will extend JCDecaux’s footprint in established regions, thereby boosting the Group’s momentum and development.
“We are pleased to continue our alliance in Italy with the Du Chène de Vère family, formed more than twenty-years ago. This acquisition of CCI will allow us to develop IGPDecaux on a highly dynamic market. The JCDecaux and Clear Channel teams will harness their combined expertise to fulfil the expectations of advertisers, cities and citizens alike, to develop more than ever a service-oriented and sustainable media.”