The two are joining forces to create NBCDecaux, which will bid for a 20-year street furniture contract to design, install and maintain advertising-supported bus shelters, newsstands and public toilets throughout New York City.
JCDecaux, a unit of French-based JCDecaux Group, will own 70% of the company and NBC Universal would own the remaining 30%. The partnership has submitted the proposal to the New York City Department of Transportation.
Bob Wright, chairman and CEO NBC Universal, said: "NBC is to in-home advertising what JCDecaux is to out-of-home advertising -- we both create first-class environments that enhance the messages our advertisers want to deliver."
NBC Universal is owned by General Electric. In May of this year, NBC completed its merger with Vivendi-owned Universal, which was worth $3.4bn.
JCDecaux, the largest outdoor advertising company in Europe, posted record results for the year to June 30 2004. Revenues were up by 4.5% to €792.3m (£541.4m) and organic revenue was up 4.8%, boosted by good performance in street furniture and a strong recovery in transport.
Jean-Charles Decaux, chairman and co-chief executive officer, said that results reflected the strong recovery of the European advertising market in general.
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