Boston, MA 06/18/2014 (wallstreetpr) – CBS Outdoor Americas Inc (NYSE:CBSO) has announced the acquisition of Windsor Outdoor billboards in Chicago. It will now become a part of CBS portfolio. It has entered into a formal agreement with Windsor. CBS will get the control of more than 35 billboard structures. These structures are placed along the Chicago-area expressways. The company also confirmed the use of more than 70 display faces in the deal. These display faces are available in the City of Chicago, Illinois and the nearby metropolitan area. The deal is expected to close in the year itself.
The advantages of deal
CBS Outdoor Americas Inc (NYSE:CBSO) management is optimistic about the tuck-in acquisition. The deal is covering all the main locations along the main corridors in the City of Chicago. It will also cover the area around the Chicago O’Hare Airport for the displays. The company is happy with the acquired locations as it is as per the plans, and will capture major areas. Moreover, it has acquired the billboard structures from Windsor Outdoor LLC that is one of the largest and independent billboard owners. Obviously, the deal with the largest operator in Chicago area will be bringing immense gains for the company.
Moving ahead
As of now CBS Outdoor Americas Inc (NYSE:CBSO) has more than 750 billboards in the Chicago area. It is expanding the range of its billboards with the new deal. There is no official announcement made as of how much CBS will pay for the billboards. Windsor might now owe any of the billboards after the sale. It has got the other plans to stay the operator for in the billboard market for the owners. It has got the billboards on the Bishop Ford Freeway, Dan Ryan Expressway and others. It is a value deal for the CBS Outdoor as it will now have ample billboards in the City of Chicago at the prime locations making it improve its performance and the operations in the Chicago region.
