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Netflix invests in W Hollywood billboard ads space with acquisition of half of Regency's assets

Tuesday 3 July 2018 | 08:45 CET | News

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Netflix decided to buy only half of Los Angeles-based Regency Outdoor Advertising's assets for USD 150 million after initially saying in April it will acquire the entire company for USD 300 million, writes Reuters citing people familiar with the matter. Following this deal, Netflix will soon own up to 35 billboard displays on roughly two dozen structures along West Hollywood's Sunset Strip. Expected to close in July, the deal will cycle off advertisements of rivals such as AT&T's (T.N) HBO and CBS Corp's (CBS.N) Showtime once it closes, a person close to the talks said.

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Categories: General
Companies: AT&T / Dolby / HBO / Netflix
Countries: United States / World
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