CMA gives green light to Global's Exterion deal following investigation

Deal sees Global become UK's second-biggest player in out-of-home.

Exterion: CMA launched investigation in February
Exterion: CMA launched investigation in February

The Competition & Markets Authority has given the go-ahead for Global's takeover of out-of-home media owner Exterion Media, after launching an investigation examining if the deal was anti-competitive.

Having now concluded its inquiry, the organisation has approved the deal. This will enable Global – a group with roots in radio – to roll out its Outoor division. In September 2018, it bought Primesight and Outdoor Plus, while the Exterion deal went through in November.

Global said the addition of Exterion made it a market-leading outdoor company in Ireland, France, the Netherlands and Spain, and one of the largest outdoor ad companies in the UK and Europe.

The CMA informed the two companies of its "merger inquiry" in February and invited interested third parties to make a formal comment on the deal ahead of a 6 March deadline. It said a decision would be due on 16 April.

It is understood that the CMA spoke to industry figures and companies, including out-of-home specialists Kinetic, Talon Outdoor and Posterscope.

The CMA's investigation saw it consider whether or not the deal was a "relevant merger situation" under the Enterprise Act 2002 and whether that situation has resulted or could result in a "substantial lessening of competition within any market or markets in the UK for goods and services".

Stephen Miron, Global's group chief executive, said: "We are delighted that our acquisition of Exterion Media has now been formally approved by the CMA. Exterion, together with our recent purchases of Primesight and Outdoor Plus, will enable Global to make a huge impact in the outdoor market.

"As we have demonstrated over the last 11 years with our market-leading radio business, we’re looking forward to bringing great innovation into the outdoor sector for advertisers, as well as our new franchise and landlord partners."

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