Global, the U.K. radio group, has agreed to buy Exterion Media Group. Platinum Equity is the seller. Exterion, of London, provides media solutions including billboards, displays on buses and national railways. The deal was valued at 450 million pounds to 500 million pounds, according to press reports. Mark Boidman of PJ Solomon, along with Goldman Sachs, advised Exterion.
Oct 12 — GLOBAL MAKES BINDING OFFER TO ACQUIRE EXTERION MEDIA
GLOBAL MAKES BINDING OFFER TO ACQUIRE EXTERION MEDIA
FOLLOWING THEIR RECENT ACQUISITION OF PRIMESIGHT AND OUTDOOR PLUS INCREASING GLOBAL’S PUSH INTO OUTDOOR MEDIA
Global, the Media & Entertainment Group founded by Ashley Tabor OBE, owner of Heart, Capital, LBC, Classic FM, Smooth, Capital XTRA and Radio X, has enhanced its recent acquisitions of Primesight and Outdoor Plus, with the binding offer to acquire Exterion Media.
Exterion Media is the No 1 media owner in the UK’s transport sector and operates market leading Out-of-Home (OOH) companies in Ireland, France*, The Netherlands and Spain.
Renowned as international outdoor advertising experts, the company holds the Transport for London (TFL) advertising contract for London Underground and Rail networks. They are also responsible for OOH across all four metro systems in the UK: Newcastle, Liverpool, London and Glasgow, as well as being the largest supplier of bus side advertising in the UK. The transport focussed assets of Exterion will make a perfect fit with Global’s current OOH portfolio, adding transport to its existing, mostly roadside business.
Led by CEO Leon Taviansky, Exterion Media is widely recognised within the media industry for providing award winning advertising solutions for which they have won, and been shortlisted for, numerous industry awards.
Leon Taviansky will transition with the business to Global Outdoor, which will be overseen by Stephen Miron, Global’s Group CEO.
Global’s newly created outdoor (OOH) division, will live alongside Global’s radio business. Global’s unique centrally run structure will enable advertisers to benefit from smart opportunities in the future.
Stephen Miron, Group CEO Global, said: “Global’s binding offer to acquire Exterion Media complements our recent purchase of Primesight and Outdoor Plus. 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. 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.”
Ashley Tabor OBE, Founder & Executive President of Global, said: “Our binding offer to acquire Exterion Media demonstrates our commitment to the OOH sector and means that we now have credible solutions on air, online and outdoor. The Exterion Media inventory also affords many opportunities and synergies with our current business and we look forward to bringing new innovations to the Out-of-Home sector for the benefit of advertisers.”
Leon Taviansky, CEO Exterion said: “Like many others I was very impressed to see Global enter the OOH market and can fully understand why Exterion Media sits very well within Global’s OOH portfolio. We look forward to joining the Global family.”
*As is usual for transactions involving French subsidiaries with works councils, the deal is subject to exercise by the sellers of an option to require Global to acquire Exterion Media following consultation with the works council and customary closing conditions, with completion anticipated by the end of 2018.
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