The owner of Capital and LBC radio stations announced in a statement that these acquisitions will be brought together in a new division, called Global Outdoor, which will be led by Global CEO Stephen Miron.
Meanwhile, Primesight CEO Naren Patel and Outdoor Plus founder Jonathan Lewis will “transition” with their respective businesses to Global Outdoor.
Global said the new OOH platform will live alongside its radio business and, while the two will be run separately, a centrally run structure as well as substantial capital investment are expected to “significantly” increase the group’s number of digital sites and “enable smart opportunities for advertisers in the future”.
Primesight and Outdoor Plus may not have the same OOH market share as JCDecaux, Exterion Media or Clear Channel, but according to Campaign the acquisitions “will dramatically reshape the OOH market”, giving Global a share of about 15%.
Primesight has an advertising estate covering more than 35,000 sites in the UK, claiming to reach 95% of the population, and its portfolio includes display panels at cinemas, roadside billboards and ten UK airports.
Outdoor Plus has many premium digital OOH sites nationwide, especially in London where it has displays at The One, Knightsbridge as well as The Hammersmith Towers and Euston Underpass.
It also operates a network of digital bridges in partnership with Transport for London, the public body that oversees advertising on the London Underground and other travel networks in the British capital.
“We’ve always been strong supporters of outdoor advertising and understand the power of the medium – we see an extremely complementary fit with our radio business,” said Stephen Miron, CEO of Global.
“Similar to radio, OOH also continues to show consistent annual advertising growth and through the increase in digital out-of-home, we can see that the medium has great potential to grow even further.”
Naren Patel, CEO of Primesight, added: “Global’s expertise in broadcast media together with Primesight’s deep knowledge of the OOH advertising sector, will create unique opportunities for advertisers which haven’t been possible before.”
Sourced from Global; additional content by WARC staff