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Stock Market & Financial Investment News

News Breaks
June 17, 2014
06:56 EDTCBSOCBS Outdoor signs 35 billboards purchase agreement with Windsor Outdoor
CBS Outdoor Americas announced that it has signed a purchase agreement with Windsor Outdoor to acquire in excess of 35 billboard structures with over 70 display faces in the City of Chicago, Illinois and the surrounding metropolitan area. Closing is expected in the fall of 2014.
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September 10, 2014
06:52 EDTCBSOCBS Outdoor now sees Q3 revenue flat y/y
On September 10, Jeremy Male, CEO of CBS Outdoor Americas, will make the following statements at the Goldman Sachs 23rd Annual Communacopia Conference in New York, New York: ďAs we previously indicated, national advertising has improved slightly from second quarter levels, but the the overall market is not as strong as expected. As a result, we are updating our view of third quarter revenues, which we now expect to be close to flat year-over-year, down from the low-single-digit range we provided on our August earnings call. This continues to include the comparison issues associated with a contract non-renewal in April 2014 and the sale of our street furniture business in Los Angeles in November 2013. We are pleased to be able to accelerate the proposed closing of the acquisition of outdoor advertising assets from Van Wagner to the fourth quarter of this year, and are now working toward closing the acquisition as early as possible during the quarter. We are also pleased to inform you that this business is trending positively for the second half. Together with our previously announced acquisition of billboards in Chicago, we expect to close three additional tuck-in acquisitions by the end of this year. Together, these four acquisitions amount to a total purchase price of approximately $20M and they will complement our existing top-market U.S. portfolio."

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