Quebecor Media Inc. has announced an agreement in principle to acquire NEO-OOH’s Canada-wide out-of-home (OOH) advertising business from Media Group Inc. This acquisition will significantly increase Quebecor’s presence in the Canadian OOH advertising market.
Once finalized, this deal will expand Quebecor Out-of-Home’s inventory to more than 17,000 advertising faces across Canada, up from its current 14,000. NEO-OOH’s network includes over 3,000 advertising faces at more than 600 locations in 250 communities nationwide. The transaction is expected to close in the coming weeks, pending customary conditions.
This acquisition will enhance Quebecor’s already diverse media portfolio, which includes TV channels, digital platforms, print publications, and an existing out-of-home network. With the addition of NEO-OOH’s assets, Quebecor will be able to offer advertisers a broader range of options for reaching audiences across various media channels.
Pierre Karl Péladeau, President and CEO of Quebecor, highlighted the significance of this acquisition, stating that it will strengthen Quebecor’s ability to provide comprehensive advertising solutions across Canada. “By integrating NEO’s national network with our strong presence in Québec, we will offer advertisers more impactful opportunities to connect with consumers.”
NEO-OOH has been a significant player in the Canadian OOH advertising sector, operating in diverse environments such as shopping malls, gyms, gas stations, and digital platforms. Ronald Tapiero, President and CEO of Media Group, expressed confidence that Quebecor will continue to grow NEO-OOH’s networks, stating, “Quebecor is well-positioned to take NEO’s operations to the next level.”
The completion of this transaction will establish Quebecor as a prominent player in the Canadian out-of-home advertising market. The expanded network will offer advertisers increased reach and versatility, enabling them to connect with a broader audience across multiple formats and locations.
Web: https://www.quebecor.com/
