One of UK’s largest media companies expands with acquisition of Exterion Media

The last 12 months has seen a number of significant deals in the media sector, what with the transactions between Sky and Disney, but now it could be about to experience yet another.
UK radio giant Global has confirmed it is in a binding deal to buy Exterion Media – the firm behind much of London’s tube advertising, as well as transport advertising outside of the capital.
This adds to Global’s other recent purchases, which include Outdoor Plus and Primesight. It has been estimated that this latest purchase will give it a 30 per cent share of the UK’s out of home market, placing it side by side with previous leader JC Decaux.
Although no formal announcement of the price paid for Exterion has been released, it’s believed to be paying Exterion’s private equity owner Platinum around £400 million. This brings its total investment in the UK’s out of home sector to around £700 million.
Global’s group CEO, Stephen Miron, recently said: “Global’s binding offer to acquire Exterion Media complements our recent purchase of Primesight and Outdoor Plus.
“The incredibly positive reaction we have had to the news of our entrance into the OOH sector only reaffirms our belief and excitement about the opportunities within the outdoor market.
“Exterion has a great track record in the UK and across Europe and we look forward to working with the team to develop the business further.”
Global already holds a position as the UK’s dominant commercial radio operator and it, therefore, makes sense to branch out into the out of home sector as the two are the largest forms of traditional media.
Despite changes in consumer attitudes in the current  digital age, these two forms of advertisement continue to prosper.
Acquisition of a competitor or another firm can be an effective route for expansion as Global has demonstrated, but it requires careful planning and due diligence.
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