Radio group Global has made a binding offer to acquire Exterion Media just weeks after snapping up fellow OOH (out-of-home) companies Primesight and Outdoor Plus in a double deal.
The purchase will help the media organisation bulk up its newly-formed OOH division, Global Outdoor.
In the UK, Exterion boasts an estimated 20% share in the sector. They hold the lucrative £1.1bn Transport for London (TfL) advertising contract for the London Underground and rail networks.
Current chief executive Leon Taviansky will transition with the business to Global Outdoor, which it has been announced will be overseen by Stephen Miron, Global’s group chief executive.
Miron said the acquisition complemented its two most recent buys.
“The incredibly positive reaction we have had to the news of our entrance into the OOH sector only reaffirms our belief and excitement about the opportunities within the outdoor market,” he said.
“Exterion has a great track record in the UK and across Europe and we look forward to working with the team to develop the business further.”
‘Heavily investing’ in digital sites
The LBC, Heart and Smooth Radio owner now has three prime OOH estates that will help it flex its muscle against giants like JCDecaux and Clear Channel.
Global previously suggested that digital OOH will become an increasingly important part of its business, saying it would “heavily invest” across Primesight and Outdoor Plus’ portfolio to up the number of digital sites it owned.
On the radio side, Global has already doubled down on programmatic with its audio exchange platform DAX.
The ‘perfect fit’
Exterion is also responsible for the OOH inventory across the other three metro systems in the UK: Newcastle, Liverpool and Glasgow.
The company claims to be the largest supplier of bus side advertising in the UK, and Global said its “transport focussed assets” would serve as a “perfect” complement to the portfolio it scooped up in the Primesight and Outdoor Plus deal, adding transport to its “existing, mostly roadside business.”
Primesight has an OOH ad estate of billboards and display panels that covers more than 35,000 sites in the UK, claiming to reach 95% of the population.
Outdoor Plus, meanwhile, owns a multitude of premium digital ad sites nationwide, especially in London where it owns the space at the Hammersmith Towers and Euston Underpass.
Global’s most recent purchase will have a far-reaching impact on the OOH industry for both competitors and brands.
Source: The Drum