Clear Channel Communications Acquires Majority Stake In French Rail Ad Company

News   Clear Channel Communications Acquires Majority Stake In French Rail Ad Company Clear Channel Communications, the company that will finalize its stock-swap acquisition of SFX later this year, has announced the addition of France Rail Publicite (FRP) to its international corporate profile.

Clear Channel Communications, the company that will finalize its stock-swap acquisition of SFX later this year, has announced the addition of France Rail Publicite (FRP) to its international corporate profile.

As of May 17, Clear Channel had agreed to purchase 80 percent of FRP, which handles "all outdoor advertising on railway property in France." FRP is a subsidiary of the national French railway operator and also owns France Bus, the French bus advertising company.

Clear Channel grows by "$100 million in revenue from media including 20,000 advertising panels in stations, 15,000 billboards on rail land, 25,000 panels in trains and 7,500 buses" with the FRP acquisition.

Once Clear Channel finalizes two outstanding deals—its $14 billion deal to purchase AMFM and the subsequent $4.4 stock swap deal for SFX—the company will operate a total of 874 radio and 19 television stations in the United States and will have equity interests in over 240 radio stations around the world. In its other significant business, Clear Channel operates more than 550,000 outdoor advertising displays,including billboards, street furniture and transit panels.

-- By Murdoch McBride