SBD/Closing Bell

Van Wagner Selling 1,100-Plus Billboards To CBS Outdoor Americas

CBS Outdoor Americas Inc. today said that it will buy "about 1,100 billboards from rival Van Wagner Communications" for $690M cash in a deal that is expected to close early next year. The billboards had revenue of $206M last year. Van Wagner said that it is selling the billboards "to focus on its sports and entertainment division and its businesses that put ads on blimps and on banners flown behind small planes" (AP, 7/21).
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