Clear Channel Kicking Tires On CBS Outdoor Unit: Report

Clear Channel Outdoor Holdings is considering buying CBS’ billboard division, a deal that would boost sales at CCO by nearly two-thirds. A person familiar with the matter told Bloomberg that CBS was approached by bankers interested in finding buyers for the billboard unit and agreed to listen to proposals. “Everyone is going to be looking at it and sizing it up, seeing if there’s value to be had,” said Clear Channel Outdoor’s CEO William Eccleshare. The Wall Street Journal, citing unidentified people with knowledge of the operation, reported previously that CBS is asking $6 billion for the unit, but Eccleshare said he’d be surprised if anyone agreed to pay that much. A spokesman for CBS declined to comment on Eccleshare’s remark.

Related: Will CBS Sell Its Billboard Business? (more…)

This article was printed from https://deadline.com/2012/06/clear-channel-cbs-outdoor-sale-report-288713/