French outdoor giant JC Decaux and Viacom subsidiary Infinity have been awarded a contract worth up to $750 million by the Los Angeles city council, heralding closer co-operation between the two companies.
Under the twenty year contract, the duo will provide the city with street furniture, including the installation of 2,500 bus shelters and 150 public toilets.
Decaux and Infinity will also extend their collaboration to encompass the whole of California. Infinity is in charge of outdoor advertising in cities such as San Diego, while Decaux has a contract in San Francisco.
“Winning Los Angeles is an important step towards a closer and broader collaboration with Viacom,” said Jean- François Decaux, the French firm’s co-chief executive. “It’s very difficult to grow in the US without a local partner. It’s too early to say how this partnership with Viacom will develop, but if we cannot take it further, we will have to think about making an acquisition.”
News source: Financial Times