The British company becomes one of the outdoor advertising giants worldwide with this deal.
The British holding, Global, has finally completed the acquisition of Exterion Media, as reported by specialised and financial media in the United Kingdom. The Group, whose business focuses on the world of media, in particular radio, launched a binding offer to acquire the multinational company specialising in outdoor advertising after having taken over Primesight and Outdoor Plus. At the end of October 2018, the CEO of Exterion Media himself, Leon Taviansky, already told the media he understood “perfectly” the fit of his company in Global’s product portfolio: “As many others, I was impressed by Global’s strong entry in outdoor advertising, but I understand their actions. We are looking forward to joining the Global family,” the senior executive said after receiving the acquisition offer. As part of the integration process, Taviansky shall retain his role and will work together with Stephen Miron, CEO of Global, as pointed out by Company sources.
With this deal, Global will continue increasing its share in outdoor advertising, not only in the United Kingdom, but also worldwide and especially in Europe, where Exterion Media has most of its network. The originally French company (belonging to the private equity fund Platinum Equity after the acquisition of CBS Outdoor, giving rise to the group, nearly five years ago) is one of the leading companies in the United Kingdom in public transport and dynamic outdoor advertising, and its subsidiaries are equally strong within the outdoor advertising market in Ireland, France, The Netherlands and Spain, among others, where it typically shares leadership with JC Decaux and Clear Channel.
Internationally recognised as an expert on outdoor advertising, the company manages the advertising contract for the underground and train networks of Transport for London (TFL) as well as the underground networks in Newcastle, Liverpool and Glasgow, and also leads the bus segment in the United Kingdom. Exterion’s products for transport will complement the current portfolio of Global’s outdoor formats, with the addition of this new segment to their large format business.
Likewise, the new Global Outdoor Division (OOH) will coexist with its current radio business, becoming a part of a centralised structure which “will allow advertisers to benefit from innovative advertising formulas in the future”, as announced by Exterion Media.
In Spain, Exterion Media has been awarded the advertising contracts for buses in cities such as Madrid, Valencia, Vigo, Zaragoza or Malaga, as well as a network of different types and sizes of outdoor formats across Spain. Locally, the company is led by Borja Balanzat, and no changes in his organisation are expected, according to the Parent Company.
Global was founded and is chaired by the entrepreneur, Ashley Tabor. The main business focus until now had been the world of radio, as it controls stations such as Heart, Capital, LBC, Classic FM, Smooth, Capital XTRA and Radio X). “Our acquisition of Exterion Media confirms our commitment with the outdoor medium and implies we will now have a broad and full commercial offer which will include radio, digital and outdoor. Their assets also provide numerous opportunities and synergies for our current business, and therefore we expect to very soon include innovative outdoor solutions to benefit our advertisers,” said Tabor.
For Stephen Miron, the acquisition of Exterion Media complements the acquisition of Primesight and Outdoor Plus, “The incredibly positive reaction we have had to the news of our entry into the outdoor medium, merely confirms our conviction and enthusiasm for the incredible opportunities before us. Exterion has a strong track record in the United Kingdom and across Europe, and their team will help us develop our business even further,” the senior executive stated.
Nonetheless, the acquisition process is pending the approval from the Competition Authority in the United Kingdom. The British media reported the deal amounted to about 500 million euros. A much higher figure than the 32 million euros they spent on acquiring Primesight and Outdoor Plus. Both companies will now unite with Exterion Media to create the new Global Outdoor division.
