Clear Channel seizes More deal

Decaux is still claiming to be the world’s number one supplier of street furniture despite suffering a bitter defeat in its battle to take over its rival, More Group.

Decaux is still claiming to be the world’s number one supplier of

street furniture despite suffering a bitter defeat in its battle to take

over its rival, More Group.



But More’s chief executive, Roger Parry, has hit back describing such

claims as ’absolute nonsense’.



Decaux’s bid for More was defeated on Tuesday when it emerged that Clear

Channel, the US media company, had purchased just over 50 per cent of

More’s shares.



The swoop seals Clear Cha- nnel’s pounds 475 million agreed offer for

the poster company, which had been supported by More’s board despite a

higher bid by Decaux.



But Decaux believes it is still the largest supplier of street furniture

in the world and said this week that it was determined to retain that

position.



’Clear Channel has got a good deal,’ a Decaux spokesperson said. ’But

Decaux will continue to offer competition and maintain its number one

global position.’



More/Clear Channel had more than 200,000 poster panels in 24 countries

and a turnover of dollars 700 million, compared with Decaux’s dollars

300 million.



Parry retorted that More is likely to look at fresh expansion in the UK,

possibly into other media. Clear Channel owns television and radio

stations as well as outdoor sites in the US.



Parry said the deal could mean a move into TV and radio, but not

immediately.



’Our UK focus is to use this fresh investment to upgrade our stock and

explore opportunities in ambient media such as in-store advertising.’



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