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News Corp considering investors in News Outdoor Group

Indiantelevision.com Team

(28 June 2007 6:54 pm)

MUMBAI: News Corp has announced that it intends to explore strategic options for News Outdoor Group.

These strategic options include, but are not limited to, exploring the opportunity to expand the existing shareholder group through new strategic and private equity partners.

Headquartered in Moscow, News Outdoor is an emerging market out-of-home advertising company with an absolute leadership position in Russia. It has strong operations in Poland, Czech Republic, Romania, Ukraine and Bulgaria, and a growing presence in India, Turkey, Israel and South East Asia.

News Outdoor employs more than 4,500 employees and operates more than 50,000 advertising displays in more than 300 cities across 13 time zones.

News Outdoor offers a full range of advertising and non-advertising products including billboards, bus shelters and other street furniture, as well as unique displays, airport, transit and in-store point-of-sale displays.

News Corp has retained Goldman Sachs International to assist in the process of exploring strategic options.

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