News

APN Outdoor acquires 2 digital billboard operators

July 14, 2016

APN Outdoor today announced the acquisition of two independent billboard operators, Metrospace and IOM, based in Brisbane and Melbourne, Australia, respectively, according to a press release from APN Outdoor.

The acquisition is subject to the satisfaction of customary conditions precedent. Together, the acquisitions bring more than 240 new sites to APN Outdoor's large-format portfolio.

In the Queensland, Australia market, the purchase of Metrospace adds 103 sites, on top of APN Outdoor's existing 303 sites.

"The acquisition of Metrospace gives APN Outdoor a real boost in the Queensland market. Though our depth in Brisbane has long been significant, there have been gaps in the past, but we now have greater penetration in more than 20 new suburbs," said Richard Herring, CEO of APN Outdoor.

In Melbourne, the acquisition of IOM has increased APN Outdoor's billboard market share, gaining 137 new sites stretching, the release said.

"IOM's assets provide the perfect complement to APN Outdoor's existing portfolio in Melbourne and its surrounds," Herring said. The acquisition of IOM bolsters the depth and spread of our inventory in this market and ensures that on top of having the best sites, we also have the most options to meet the needs of our advertisers. In short we have Melbourne truly covered."

Herring went onto say, "Both acquisitions were undertaken as each company presented a quality standalone offering that added strength to our already comprehensive coverage and scale. The additional sites acquired offer our advertisers even greater choice through one provider, meaning we can meet the needs of our advertisers more efficiently than ever."