24 Jan 10

JCDecaux completes takeover deal for Titan Outdoor

JCDecaux has completed its purchase of rival Titan Outdoor

JCDecaux has completed its purchase of rival Titan Outdoor, after Titan failed to raise the financial backing to ensure the
independent future of the company.

JCDecaux would not disclose the full financial details of the takeover, but it is understood the deal has been structured as a pre-packaged sale out of administration, after Titan formally entered into administration. The acquisition consolidates French-owned JCDecaux's lead in the UK out-of-home advertising industry, giving the company about 29% of the market. Under the terms of the deal, JCDecaux will take over the majority of Titan Outdoor's UK advertising inventory, broadening its transport media portfolio with the addition of rail sites and strengthening its retail and mall offering.

Jeremy Male, chief executive of JCDecaux UK and Northern Europe, said: "Titan has a leading position in rail and
shopping malls, so it is a great fit for our business and will undoubtedly strengthen our offering to advertisers."

JCDecaux first stepped up its presence in the UK outdoor market in 1999, when it bought Havas Media's out-of-home
business, including billboard firm Mills & Allen and airport advertiser Sky Sites, from the Vivendi Group for $976m £599m).

The company has since grown to become the market leader in the UK, accounting for about 25% of the market and
posting global revenue of €1,356.1m (£1,195.2m) for the first nine months of 2009.

From a Kinetic point of view and also the industry as a whole it is good news that JCDecaux have been able to step in to
prevent Titan from going into administration , it would have been damaging to the industry which has started so well this
year to have a company go under.