Exterion Media Group, the European outdoor advertising company owned by private equity firm Platinum Equity LLC, is exploring strategic alternatives, including a major acquisition, according to people familiar with the matter. Platinum Equity has hired Royal Bank of Canada to help identify the best option for Exterion, the people said this week. Acquiring the European assets of Clear Channel Outdoor Holdings Inc, alone or with a partner, is one possibility, the people added.The sources asked not to be identified because the deliberations are confidential. A Platinum Equity spokesman declined to comment, while representatives from Royal Bank of Canada and Exterion could not be immediately reached for comment.Dealmaking in the outdoor advertising industry is on the rise because billboards are proving to be popular with local audiences even as other longtime regional advertising mainstays like newspapers and TV struggle to attract eyeballs.[ID: nL6N0U72XY]The industry is dominated by large publicly traded companies as well as independently-run regional companies that are often owned by private equity funds.
Clear Channel Outdoor Holdings, Inc. provides clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes, spectaculars, neons and mall displays, which it owns or operates in global markets. Shares of CCO traded higher by 0.41% or $0.04/share to $9.73. In the past year, the shares have traded as low as $6.22 and as high as $11.25. On average, 221351 shares of CCO exchange hands on a given day and today's volume is recorded at 188036.
Royal Bank of Canada, is a Canada-based banking company. Shares of RY traded higher by 0.27% or $0.17/share to $62.96. In the past year, the shares have traded as low as $61.00 and as high as $76.08. On average, 762556 shares of RY exchange hands on a given day and today's volume is recorded at 766547.
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