JCDecaux in talks to buy News Outdoor Group

by Maisie McCabe, Media Week 11-Sep-08, 16:25

LONDON - JCDecaux has announced today that it has entered into exclusive talks to buy Rupert Murdoch's outdoor advertising division, News Outdoor Group.

The outdoor media owner, based in Paris, has confirmed it is in exclusive discussions with News Corporation about a potential transaction relating to News Outdoor Group.

The French out-of-home company said the proposed transaction would involve cash and shares and would result in a merger of the assets of the two outdoor firms.

JCDecaux is the second largest outdoor advertising agency in the world. The company generated more than €2.1bn (£1.7bn) in revenue during 2007 and €1,067.6m (£849m) in the first half of this year.

News Outdoor Group has concentrated in developing markets such as Russia, Eastern Europe and south-east Asia.

News Outdoor is currently under investigation in Russia