Clear Channel drops out of Tube contest

Clear Channel has pulled out of the race for Transport for London's £1 billion outdoor advertising contract for the Underground.

It will now be a shoot-out between Exterion Media, the incumbent, and JCDecaux for Europe’s most valuable outdoor ad real estate. A decision is expected next month.

Clear Channel would not comment on "specific tenders" but said it only pursues business if it will benefit clients and "drive profitable revenue".

TfL’s eight-year contract is worth about £150 million a year, but observers said it could hit £250 million by 2024 thanks to digital and mobile growth.

Clear Channel lost TfL’s bus shelters last year to JC Decaux but pointed out it has acquired Arqiva’s payphone business and retained Sainsbury’s out-of-home ad sales.

TfL declined to comment.

Subscribe to Campaign from just £57 per quarter

Includes weekly and quarterly print issues, plus unrestricted online access.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now
Look out for the invisibles and introverts in your agency
Shares0
Share

1 Look out for the invisibles and introverts in your agency

By cultivating a clubbable culture, agencies are ostracising talented introverts, writes Andy Jex, the executive creative director at Saatchi & Saatchi London.

Just published