In the second major billboard takeover news this month it has been announced that APN Outdoor have acquired two independent billboard operators, Metrospace and IOM, based in Brisbane and Melbourne respectively.
The acquisition is subject to the satisfaction of customary conditions precedent. Together, the acquisitions bring more than 240 high quality, new sites to APN Outdoor’s Large Format portfolio, significantly bolstering existing offerings in Brisbane and Melbourne, as well as providing digitisation opportunities both immediately and moving forward.
In the Queensland market, the purchase of Metrospace adds 103 sites (on top of APN Outdoor’s existing 303), extending the footprint from as far north as the Sunshine Coast and as far south as Coolangatta. One of the sites set for digitisation, is located at Story Bridge. This site alone facilitates 2.1 million gross contacts a month. From a coverage perspective, the purchase of Metrospace completes the Queensland story for APN Outdoor, who have traditionally had a strong depth of coverage in Brisbane but have now grown their footprint into the surrounding, sought after areas.
Richard Herring, CEO, APN Outdoor commented, “The acquisition of Metrospace gives APN Outdoor a real boost in the Queensland market. Though our depth in Brisbane has long been significant, there have been gaps in the past, but we now have greater penetration in more than 20 new suburbs.”
When it comes to the competitive Outdoor market in Melbourne, the acquisition of iOM has propelled APN Outdoor’s Billboard market share, gaining 137 new sites stretching from Dandenong to Geelong. This acquisition not only adds volume to APN Outdoor’s portfolio but, more significantly, is the perfect complement to the existing spread of assets, breaking new ground across the suburban areas of Melbourne and strengthening the existing footprint across major freeways and key arterials. In Melbourne, digitisation of these newly acquired assets is high on the agenda for APN Outdoor, with multiple sites currently in the development pipeline and scope for more in the coming months.
Richard Herring went onto comment, “iOM’s assets provide the perfect complement to APN Outdoor’s existing portfolio in Melbourne and its surrounds. The acquisition of iOM bolsters the depth and spread of our inventory in this market and ensures that on top of having the best sites, we also have the most options to meet the needs of our advertisers. In short we have Melbourne truly covered.”
Herring went onto say, “Both acquisitions were undertaken as each company presented a quality standalone offering that added strength to our already comprehensive coverage and scale. The additional sites acquired offer our advertisers even greater choice through one provider, meaning we can meet the needs of our advertisers more efficiently than ever.”
Outdoor Media Association
www.oma.org.au
APN Outdoor
www.apnoutdoor.com.au
Metrospace
www.metrospace.com.au
