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Outfront Assumes New Advertising Rights in Los Angeles
In a bid to strengthen its position in the in the greater Los Angeles area, Outfront Media Inc. (OUT - Free Report) , the New York-based leading out-of-home (“OOH”) advertising company assumed new advertising rights. The rights include 349 transit buses operated by the City of Los Angeles Department of Transportation and the 242 buses operated by Long Beach Transit.
With its billboard and transit advertising displays, Outfront provides advertising services to diverse industries across 25 largest markets in the U.S. and more than 150 markets in the U.S and Canada. The company already has strong presence in the Los Angeles market. In fact, Outfront provides similar type of services for over 1,800 buses operated by the Los Angeles County Metropolitan Transportation Authority and over 800 buses operated by the Orange County Transit Authority.
Notably, Los Angeles, the most populous city in the U.S., offers huge advertising opportunities to reach the varied populace. Over 40 million people travel to this entertainment capital of the world, every year and is the perfect market for OOH advertising.
Outfront is constantly striving to bolster its Los Angeles billboard and transit display network by offering the existing and potential customers the ability to reach one of the most important economic and cultural centers in the U.S. The latest move is in sync with its perceived strategy.
OUTFRONT MEDIA Price
OUTFRONT MEDIA Price | OUTFRONT MEDIA Quote
Currently, Outfront carries a Zacks Rank #3 (Hold).
Investors interested in the REIT sector can consider some better-ranked stocks like Alexandria Real Estate Equities, Inc. (ARE - Free Report) , Arbor Realty Trust Inc. (ABR - Free Report) and CareTrust REIT, Inc. (CTRE - Free Report) . All these stocks hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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