JCDecaux eyeing U.S. takeover potential
JCDecaux would acquire Clear Channel Outdoor or CBS Outdoor in order to move into the U.S. billboard market and claim the title of world’s biggest out-of-home company, according to its chief executive.
Jean-Francois Decaux told Dow Jones Newswires that his firm – whose limited presence in North America is a notable gap in its global reach – would consider a takeover of either of the U.S. firms if the opportunity arose.
The three firms among them hold 30 percent of the global outdoor advertising market. Clear Channel is the world’s largest outdoor-advertising firm, with JCDecaux in second place and CBS Outdoor third.
“As for CBS, one feels that outdoor advertising is not a core business. What matters to them is media content,” Decaux said.
Decaux’s comments came as his firm’s financials for the first half of 2009 revealed the extent to which it had been hit by worldwide economic conditions.
Total revenue was down 13.3 percent to €925m ($1.32bn) compared with the same period in 2008, with organic revenue dropping a little more steeply, by 13.8 percent. Earnings before interest and tax dove 70.1 percent to €49.5m ($70.5).
And the worst is not yet over, the firm warned: “We currently expect the decline in third-quarter organic revenues to be broadly in line with the decline in the first half.”
www.jcdecaux.com
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jcdecaux eyeing U.S. takeover
Posted 21/08/09 11:26 by Gualter Amaro
I really hope this won't happen. The world need diversity, diferent aproaches, jobs, etc. I think this is one more case of incredible need for power. To much concentration it's not good, it is leading us to somewhere in a really bad future. Thanks