CCO Comments On CBS’s Van Wagner Acquisition
Gail Chiasson, North American Editor
Clear Channel Outdoor has released this statement on the acquisition of Van Wagner Communications by CBS Outdoor:
“Although we’re disappointed that we didn’t win the bidding for Van Wagner, the 21.6x multiple reported in CBS’ presentation this morning is the highest-multiple deal in the out-of-home industry in the last 10 years and a great validation of the value of Outdoor.”
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