OUTFRONT Media Acquires Out Of Home Assets In Grand Rapids

Rhea-AI Summary

OUTFRONT Media has acquired 29 digital and 87 static advertising faces from Grand Rapids Outdoor, enhancing its presence in Grand Rapids and Detroit. This acquisition, primarily in the fast-growing Grand Rapids area, boosts OUTFRONT's portfolio, providing advertisers with improved access to a burgeoning consumer base. CEO Jeremy Male highlighted the strategic importance of this move, stating it complements OUTFRONT's coverage in Michigan's second-largest market. The addition of these digital displays will offer unprecedented exposure for clients targeting this dynamic region.

Positive

• Acquisition of 29 digital and 87 static faces enhances market presence in Grand Rapids and Detroit.
• Outcomes expected to provide improved access to a growing consumer audience.
• Strengthens OUTFRONT's portfolio in Michigan's second largest market.

Negative

• None.

NEW YORK, Dec. 16, 2021 /PRNewswire/ -- OUTFRONT Media Inc. (NYSE:OUT) announced it has acquired 29 Digital and 87 Static faces from Grand Rapids Outdoor, 90% of which are in the Grand Rapids metropolitan area with the balance in Detroit. These new assets expand OUTFRONT's portfolio within the Grand Rapids area – making the OOH company's inventory invaluable for advertisers looking to target consumers in the market.

Grand Rapids is among the fastest growing metropolitan areas in Michigan, with a thriving downtown and flourishing suburbs. OUTFRONT's inventory provides unprecedented coverage to the west side of the state. The premium digital assets and traditional static billboards add to the existing plant, providing unparalleled exposure for clients in this booming city.

"This acquisition adds to our presence in Grand Rapids, complementing and extending our coverage across Michigan's second largest market," said Jeremy Male, CEO of OUTFRONT. "We are excited to have the ability to offer our clients more access to the growing audience in Grand Rapids – especially with a multitude of digital displays in high profile areas."

About OUTFRONT Media Inc.

OUTFRONT leverages the power of technology, location and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.

Contact:
Investors:	Media:
Stephan Bisson	Courtney Richards
Vice President, Investor Relations	Senior PR & Events Specialist
(212) 297-6573	(646) 876-9404
stephan.bisson@OUTFRONT.com	courtney.richards@OUTFRONT.com

 

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SOURCE OUTFRONT Media Inc.

FAQ

What is the significance of OUTFRONT Media's acquisition on December 16, 2021?

The acquisition of 29 digital and 87 static faces from Grand Rapids Outdoor is significant as it enhances OUTFRONT Media's presence in the rapidly growing Grand Rapids market and improves access for advertisers.

How does the acquisition impact OUTFRONT Media's inventory?

The acquisition increases OUTFRONT Media's inventory in Grand Rapids, providing more advertising opportunities with premium digital and static displays.

What geographical areas are affected by OUTFRONT Media's latest acquisition?

The latest acquisition primarily targets the Grand Rapids metropolitan area, with additional assets in Detroit.

What are the implications of the acquisition for advertisers?

Advertisers will benefit from enhanced access to an expanding audience in a thriving market through increased exposure on digital displays in high-profile areas.