March 2006: Bill Apfelbaum buys the troubled outdoor contractor Maiden Outdoor and renames it Titan Outdoor - the name of his US operation. A clear-out of directors follows. But the managing director, David Pugh, is asked to stay on in the role of chief executive.
September 2006: Andy Moug and Alison Reay were appointed to work as the joint managing directors following the completion of the takeover, but the departures kept on coming throughout the summer - notably the group sales director, Philip Miles, and the regional sales head, Richard Blackburn. And in September, there are worries that Titan may be struggling to meet its new targets when it asks its poster site landlords for rent reductions.
November 2006: Pugh resigns. He is to be replaced by Jon Slatkin, who has already been advising the company on ways to achieve its main target - to break even by the end of 2006. There's good news when it wins a small slice of London Underground's business.
June 2007: Titan's new-business performance has been patchy. In January, for instance, it won Southeastern Rail, but lost Northern Rail. And there's continuing speculation about low morale following more departures. Steve Atkinson, its new group sales director, Helen Bouchez, the development director, and Anthony Waithe, the research director, all quit in March. Reay leaves without a job to go to in June.
August 2007: At last, some unambiguously good news - Titan Outdoor wins the prestigious St Pancras International Station contract. The station, refurbished at a cost of £800 million to become London's main Eurostar terminal from November 2007, will also continue to be a commuter hub, serving a projected 44 million passengers a year. The six-year advertising contract is worth £5 million.
Fast forward ...
November 2007: Titan unveils its space-age advertising innovations at the new St Pancras terminal. While rumours of poster sites that can teleport FMCG products into consumers' hands prove unfounded, advertisers are impressed with the range of Wi-Fi, projection and moving formats that Titan introduces. Profit targets are in sight until Eurostar officials insist on solar panels on every billboard.