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NYSE: OUT 18.20
-1.15 -5.94%
Volume: 1,680,881
17 Dec 2018 04:03 PM Minimum 20 minutes delay
investor-news

News Releases

22Dec2014
OUTFRONT Media Announces Details Of Special Dividend
OUTFRONT Media Inc. (NYSE: OUT) announced today the distribution results for its previously announced special dividend of approximately $547.7 million , or $4.56 per share of common stock outstanding on the record date. The special dividend represents the Company's accumulated earnings and profits as of July 17, 2014, the date the Company began operating in a manner that will allow it to qualify as a real estate investment trust ("REIT") for U.S. federal income tax purposes. The special dividend is payable on December 31, 2014 , to stockholders of record on November 20 , 2014.  Stockholders had the right to elect to receive the special dividend in the form of either cash or shares of our common stock, however the aggregate amount of cash to be distributed will be $109.5 million , or 20% of the special dividend, with the balance of the special dividend payable in the form of common stock.  The number of shares to be issued was determined based on the volume weighted average...
8Dec2014
OUTFRONT Media Partners With Videri To Introduce New Digital Display Platform
Enabling a Contemporary Digital Experience at Scale for Consumers, Advertisers, Municipal Franchisors, and Real Estate Owners OUTFRONT Media , one of the largest out-of-home media companies in the US, is expanding its media portfolio with the introduction of an advanced digital platform from Videri , an early-stage media technology firm. This exclusive partnership will leverage new patent-pending addressable displays, cloud distribution, engaging content capabilities, and a unique app-enabled infrastructure. The new OUTFRONT digital platform will be built to engage audiences at mass scale, including the capability to deliver highly targeted campaigns. It will also allow OUTFRONT and its customers to seamlessly connect to a wide range of media services, such as agency workflow systems and programmatic options. The platform, which is expected to be launched in the first half of 2015, will bring new capabilities to OUTFRONT's existing digital displays, including large format billboards,...
5Dec2014
OUTFRONT Media Signs New Contract with Metropolitan Atlanta Rapid Transit Authority
OUTFRONT Media has signed a new transit advertising services contract with the Metropolitan Atlanta Rapid Transit Authority (MARTA), one of the nation's largest public transportation systems, as announced today by Jeremy Male , chairman and CEO, OUTFRONT Media . Effective on January 1, 2015, this new agreement has a five-year initial term that can be extended for up to two additional years and is expected to generate a minimum of $25 million in revenues for the Authority. Combined with its other transit relationships, including New York, Los Angeles, Miami, and Washington, DC, OUTFRONT Media is North America's largest transit advertising business. "We have a strong commitment to the public transportation business, and are excited that both OUTFRONT Media and MARTA will reap the benefits of this growing market. We are delighted to continue this relationship," said Male. MARTA is the only rapid-transit system in the Atlanta metropolitan area. It is the eighth-largest rapid transit...
25Nov2014
OUTFRONT Media Chief Executive Officer Jeremy Male To Participate In The UBS Global Media & Communications Conference
OUTFRONT Media Inc. (NYSE: OUT) announced today that Jeremy Male , Chairman & Chief Executive Officer, is scheduled to present at the UBS 42 nd Annual Global Media & Communications Conference in New York, New York on Monday, December 8, 2014 at 9:30 a.m. Eastern Time .  A live and replay audio webcast will be available on the investor relations section of the Company's website at www.outfrontmedia.com . About OUTFRONT Media Inc. OUTFRONT Media (NYSE: OUT) is one of the largest out-of-home media companies in the Americas and has a major presence in top markets throughout the United States, Canada, Mexico and South America. With traditional billboard and transit outdoor advertising properties, and a network of digital displays, OUTFRONT Media gives advertisers both breadth and depth of audience across key geographies, as well as immersive ways to connect with increasingly mobile consumers. Contacts: Investors: Media: Gregory Lundberg Carly Zipp (212) 297-6441 (212) 297-6479...
20Nov2014
CBS Outdoor Rebrands To OUTFRONT Media
Stock begins trading under the ticker symbol "OUT" New online presence launches at www.OUTFRONTmedia.com CBS Outdoor Americas Inc. (NYSE: CBSO) announced today that it has rebranded to OUTFRONT Media Inc. (NYSE: OUT). "It's an exciting day for our Company and our shareholders, as we close the book on our separation from CBS Corporation and begin our life as a fully independent company," said Jeremy Male, Chairman & Chief Executive Officer.  "In cities and towns across the U.S., we've already rebranded 70,000 displays with our bold new OUTFRONT logo, and today we launched our new website, OUTFRONTmedia.com.  This new brand clearly defines our position as being out front with technology, out front in thought leadership and, importantly, putting our advertisers out front in prime locations to reach their target audiences." Today is also the record date for the previously announced special dividend of approximately $547.7 million , or $4.56 per share, which is the last substantive...
18Nov2014
OUTFRONT Media Releases Details Of Special Dividend
OUTFRONT Media Inc. (NYSE: OUT) announced today the distribution results for its previously announced special dividend of approximately $547.7 million , or $4.56 per share of common stock outstanding on the record date. The special dividend represents the Company's accumulated earnings and profits as of July 17, 2014, the date the Company began operating in a manner that will allow it to qualify as a real estate investment trust ("REIT") for U.S. federal income tax purposes. The special dividend is payable on December 31, 2014 , to stockholders of record on November 20 , 2014.  Stockholders had the right to elect to receive the special dividend in the form of either cash or shares of our common stock, however the aggregate amount of cash to be distributed will be $109.5 million , or 20% of the special dividend, with the balance of the special dividend payable in the form of common stock.  The number of shares to be issued was determined based on the volume weighted average...
7Nov2014
CBS Outdoor Chief Executive Officer Jeremy Male To Participate In The Wells Fargo Technology, Media, And Telecom Conference
 CBS Outdoor Americas Inc. (NYSE: CBSO) announced today that Jeremy Male, Chairman & Chief Executive Officer, is scheduled to present at the Wells Fargo Technology, Media and Telecom Conference in New York, New York on Thursday, November 13, 2014 at 9:20 a.m. Eastern Time.  A live and replay audio webcast will be available on the investor relations section of the Company's website at www.cbsoutdoor.com . About CBS Outdoor Americas Inc. CBS Outdoor (NYSE: CBSO) is one of the largest out-of-home media companies in the Americas and has a major presence in top markets throughout the United States, Canada, Mexico and South America. With traditional billboard and transit outdoor advertising properties, and a network of digital displays, CBS Outdoor gives advertisers both breadth and depth of audience across key geographies, as well as immersive ways to connect with increasingly mobile consumers.  On November 20, 2014, the Company's name will change to Outfront Media Inc.,...
4Nov2014
CBS Outdoor Reports Third Quarter 2014 Results
Revenues of $336.5 million, up 0.2% on a comparable basis

Adjusted OIBDA of $106.9 million, down 3.6% on a comparable basis

AFFO of $70.2 million; Operating Income of $47.6 million; Net income of $248.3 million

Quarterly dividend of $0.37 per share to be paid December 15, 2014

REIT E&P purge dividend to be paid December 31, 2014

Completed financing and closed Van Wagner acquisition October 1

Announced new brand name - OUTFRONT Media CBS Outdoor Americas Inc. (NYSE: CBSO) today reported results for the quarter ended September 30, 2014. "With the closing of our Van Wagner acquisition, we believe we have the best assets, best audiences, and best people reflected by our new brand – Outfront Media.  This brand captures our position perfectly – out front in technology, thought leadership, and innovation," said Jeremy Male , Chairman & Chief Executive Officer. "Our third quarter results reflect the...
29Oct2014
CBS Outdoor Announces Quarterly Dividend and Special Dividend
CBS Outdoor Americas Inc. (NYSE: CBSO) today announced that its board of directors has approved a quarterly dividend on the Company's common stock of $0.37 per share. The dividend is payable on December 15, 2014, to stockholders of record on November 18, 2014. The Company also today announced that its board of directors has approved a special dividend on the Company's common stock of approximately $547.7 million, or $4.56 per share based on the number of shares currently outstanding, in connection with the Company's previously announced conversion to a real estate investment trust ("REIT"). The special dividend is payable on December 31, 2014, to stockholders of record on November 20, 2014.  The special dividend is in the amount of the Company's accumulated earnings and profits as of July 17, 2014, the date the Company began operating in a manner that will allow it to qualify as a REIT for U.S. federal income tax purposes.  Approximately 20%, or $109.5 million, of the...
20Oct2014
CBS Outdoor Names Nick Brien to Board of Directors
Former Head of McCann Worldgroup and IPG Mediabrands Brings Media, Marketing and Advertising Expertise  CBS Outdoor Americas Inc. (NYSE: CBSO) today announced that Nick Brien, former global chairman and CEO of McCann Worldgroup, has been appointed to the Company's Board of Directors. Commenting on the appointment, Chief Executive Officer Jeremy Male said, "Nick is an accomplished executive and a global leader in media, marketing and advertising.  CBS Outdoor will benefit from his unique cross-disciplinary perspective, extensive operational experience and deep expertise working with world-class brands." Mr. Brien said, "I am delighted to serve on the board of CBS Outdoor, a market leader in one of the most dynamic sectors of the advertising industry.  The Company is helping to drive the evolution of out-of-home by bringing technological innovation and digital creativity to a proven brand-building medium.  I look forward to supporting management as they undertake...
20Oct2014
CBS Outdoor to Become Outfront Media
New brand highlights Company's leadership in out-of-home advertising Follows IPO, separation from CBS Corporation, REIT conversion and Van Wagner acquisition  CBS Outdoor Americas Inc. (NYSE: CBSO) has announced it will rebrand as Outfront Media Inc., marking another important step in the Company's transformation. "Outfront captures exactly who we are as a completely reenergized company and where we'll be with innovative technology and creativity for our advertising clients," said Jeremy Male, chief executive officer.  "Our bold new identity - deployed nationwide from Times Square to the Sunset Strip - also represents the unmatched audience that our prime assets will deliver as we elevate our business and industry to new heights." The Outfront identity represents a new era for the Company and for its position within the growing out-of-home advertising sector.  The brand also symbolizes the Company's unique portfolio of billboards and displays in the most desired...
6Oct2014
CBS Outdoor to Report Third Quarter 2014 Results on Tuesday, November 4
CBS Outdoor Americas Inc. (NYSE:CBSO) announced today that it will report results for the quarter ended September 30, 2014 after the market closes on Tuesday, November 4, 2014. The earnings announcement will be available in the Investor Relations section of the Company's website, www.cbsoutdoor.com . The Company will host a conference call to discuss the results on November 4, 2014 at 4:30 p.m. Eastern Time. The conference call number is 888-500-6974 (U.S. callers) and 719-325-2100 (International callers) and the passcode for both is 3699766. Live and replay versions of the conference call will be webcast in the Investor Relations section of the Company's website, www.cbsoutdoor.com . About CBS Outdoor Americas Inc. CBS Outdoor (NYSE: CBSO) is one of the largest out-of-home media companies in the Americas and has a major presence in top markets throughout the United States, Canada, Mexico and South America. With traditional billboard and transit outdoor advertising properties, and a...
1Oct2014
CBS Outdoor Closes Acquisition of Outdoor Assets from Van Wagner Communications, LLC
CBS Outdoor Americas Inc. (NYSE:CBSO) today announced the completion of its previously announced acquisition of certain outdoor advertising businesses from Van Wagner Communications, LLC. In connection with the transaction, CBS Outdoor acquired 1,094 large format billboard displays in 11 top U.S. markets as well as 8,386 other outdoor advertising displays. The $690 million purchase price was funded with a combination of cash on hand and new indebtedness. Jeremy Male, chief executive officer of CBS Outdoor, said, "We are pleased to have completed this transaction ahead of our original schedule and are excited to be bringing aboard compelling assets and some talented new employees. We believe that our top-market focus, coupled with exciting new opportunities in the out-of-home industry, will continue to benefit our advertising clients and our shareholders." Cautionary Statement Concerning Forward-Looking Statements CBS Outdoor Americas Inc. (the "Company") has made statements in this...
16Sep2014
CBS Outdoor Announces Pricing of Senior Notes Offering
CBS Outdoor Americas Inc. (NYSE:CBSO) today announced that two of its wholly owned subsidiaries priced a previously announced private offering of $600 million in aggregate principal amount of senior unsecured notes, consisting of $450 million in aggregate principal amount of new 5.875% notes due 2025 (the "2025 notes") and an additional $150 million in aggregate principal amount of their existing 5.250% notes due 2022 (the "2022 notes" and, together with the 2025 notes, the "notes"). The 2025 notes are to be sold at an issue price of 100% of the principal amount and the 2022 notes are to be sold at an issue price of 99.5% of the principal amount, plus accrued interest from May 15, 2014. The offering is expected to close on October 1, 2014, subject to customary closing conditions. CBS Outdoor intends to use the net proceeds from the notes offering, together with cash on hand and borrowings under its revolving credit facility, to pay the consideration for its previously announced...
16Sep2014
CBS Outdoor Announces Proposed Senior Notes Offering
CBS Outdoor Americas Inc. (NYSE:CBSO) today announced that two of its wholly owned subsidiaries commenced a private offering of $550 million in aggregate principal amount of senior unsecured notes, consisting of $450 million in aggregate principal amount of new senior unsecured notes due 2025 (the "2025 notes") and an additional $100 million in aggregate principal amount of their existing 5.250% notes due 2022 (the "2022 notes" and, together with the 2025 notes, the "notes"), subject to market and other conditions. CBS Outdoor intends to use the net proceeds from the notes offering, together with cash on hand and borrowings under its revolving credit facility, to pay the consideration for its previously announced acquisition of certain outdoor advertising businesses (the "Acquired Business") from Van Wagner Communications, LLC and to pay related fees and expenses. If the acquisition is not consummated for any reason, the issuers of the notes will be required to redeem the 2025 notes...
3Sep2014
CBS Outdoor Chief Executive Officer Jeremy Male to Participate in the Goldman Sachs Communacopia Conference
CBS Outdoor Americas Inc. (NYSE:CBSO) announced today that Jeremy Male, Chief Executive Officer, is scheduled to present at the Goldman Sachs 23 rd Annual Communacopia Conference in New York, New York on Wednesday, September 10, 2014 at 2:55 p.m. Eastern Time. A live and replay audio webcast will be available on the investor relations section of the Company's website at www.cbsoutdoor.com . About CBS Outdoor Americas Inc. CBS Outdoor (NYSE:CBSO) is one of the largest out-of-home media companies in the Americas and has a major presence in top markets throughout the United States, Canada, Mexico and South America. With traditional billboard and transit outdoor advertising properties, and a network of digital displays, CBS Outdoor gives advertisers both breadth and depth of audience across key geographies, as well as immersive ways to connect with increasingly mobile consumers. For more information, visit www.cbsoutdoor.com . CBS Outdoor Americas Inc.
Investors:
Gregory...
20Aug2014
CBS Outdoor Announces Satisfaction of Regulatory Approval Closing Condition for Its Acquisition of Van Wagner Assets
CBS Outdoor Americas Inc. (NYSE: CBSO) today announced that it satisfied the regulatory approval closing condition with respect to the Company's previously announced acquisition of certain outdoor advertising businesses from Van Wagner Communications, LLC. As previously announced on July 21, 2014, the Company entered into a definitive agreement to acquire certain outdoor advertising businesses from Van Wagner Communications, LLC for $690 million in cash. The acquisition remains subject to other closing conditions, and is now expected to close in the fourth quarter of 2014. Cautionary Statement Concerning Forward-Looking Statements The Company has made statements in this press release that are forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the use of forward-looking terminology such as "expect" or the negative of these words and phrases or...
7Aug2014
CBS Outdoor Reports Second Quarter 2014 Results
CBS Outdoor Americas Inc. (NYSE:CBSO) today reported results for the quarter ended June 30, 2014. “Our second quarter 2014 financial results reflect a strong local market as we continue to execute on our strategic plan, despite some anticipated market softness in national advertising,” said Jeremy Male, Chief Executive Officer. “Our US billboard revenues were up 3.3%, we saw digital and static yields improve during the quarter, and we’re well on track with our digital deployment plans for the year. We’re progressing with our Van Wagner acquisition and look forward to bringing these top-market assets into our portfolio. With our separation from CBS now complete, we’re also looking forward to our important rebranding in the fourth quarter.”   Second Quarter Results Three Months Ended June 30:   2014 REIT-     2013 on a   2013 REIT- 2014 Comparable 2013 Comparable Comparable $ in Millions   Reported   Basis1   Reported   Basis2,3  ...
6Aug2014
CBS Outdoor Announces Quarterly Dividend
CBS Outdoor Americas Inc. (NYSE:CBSO) announced that its board of directors has approved a quarterly dividend on the Company's stock of $0.37 per share. The dividend is payable on September 30, 2014, to stockholders of record on September 9, 2014. About CBS Outdoor Americas Inc. CBS Outdoor (NYSE:CBSO) is one of the largest out-of-home media companies in the Americas and has a major presence in top markets throughout the United States, Canada, Mexico and South America. With traditional billboard and transit outdoor advertising properties, and a network of digital displays, CBS Outdoor gives advertisers both breadth and depth of audience across key geographies, as well as immersive ways to connect with increasingly mobile consumers. For more information, visit www.cbsoutdoor.com . Investors:
Gregory Lundberg, 212-297-6441
carly.zipp@cbsoutdoor.com
or
Media:
Carly Zipp, 212-297-6479
greg.lundberg@cbsoutdoor.com Source: CBS Outdoor Americas Inc....
5Aug2014
CBS Outdoor Names Manuel Díaz to Board of Directors
Former Miami Mayor to Bring Successful Track Record in Public Service CBS Outdoor Americas Inc. (NYSE:CBSO) today announced the appointment of Manuel A. Díaz as an independent director to the Company's Board from August 5, 2014. Mr. Díaz will bring extensive public service and community expertise to the Board, having served as two-term mayor of Miami, Florida, between 2001 and 2009. While in office, he was chosen to lead the United States Conference of Mayors, the official non-partisan organization of cities with populations of 30,000 or more, in 2008. That same year he was named one of America's Best Leaders by U.S. News & World Report. After leaving elective office, he served as a 2010 Resident Fellow at Harvard's Institute of Politics. Mr. Díaz is currently a senior partner at Lydecker Diaz, LLP, a Miami-headquartered law firm specializing in financial litigation. He also serves as a director of Bloomberg Philanthropies, a member of the National Advisory Council of the Mayors'...
5Aug2014
CBS Outdoor Names Susan M. Tolson to Board of Directors
Tolson to Bring Substantial Media Industry Investment and Board Experience CBS Outdoor Americas Inc. (NYSE:CBSO) today announced the appointment of Susan M. Tolson, an accomplished business leader in the media and finance sectors, as an independent director to the Company's Board from August 5, 2014. Ms. Tolson brings extensive investment and media-industry expertise. She previously spent two decades with The Capital Group Companies, where she was a media and entertainment analyst and portfolio manager specializing in high-yield bonds. She currently serves as a director of Lagardère Groupe, the Paris-headquartered media and publishing conglomerate, in addition to WorldLine E-Payment Services and Take-Two Interactive Software. Ms. Tolson previously served as an independent director of American Media, Inc. and is a past trustee of the American University of Paris and Board member of the Franco-American Fulbright Commission. From 2009 to 2013, Ms. Tolson served as the U.S....
28Jul2014
CBS Outdoor Announces Executive Appointments
Andrew Sriubas to Lead Strategic Planning & Development Clive Punter to Join as Chief Revenue Officer CBS Outdoor Americas (NYSE:CBSO) has further strengthened its management team with the appointment of two accomplished executives. Andrew Sriubas has joined CBS Outdoor as executive vice president with oversight of the company's strategic alliances and partnerships, with particular focus on driving organic and new-market growth and technology. A veteran of the investment banking industry, he has held senior roles at Citicorp Securities, Inc., Donaldson, Lufkin & Jenrette/Credit Suisse First Boston, UBS Investment Bank, and JP Morgan Chase. Most recently, Mr. Sriubas served as chief of strategy and corporate development at Sonifi Solutions, a leading provider of digital connectivity to consumers in hospitality and healthcare environments. Clive Punter, an established leader in the media industry, will join the organization as executive vice president and chief revenue officer....
23Jul2014
Wally Kelly to Depart CBS Outdoor
President and COO will pursue opportunities outside of the organization CBS Outdoor Americas Inc. (NYSE: CBSO) has announced that Wally Kelly, president and chief operating officer since 2013, will be leaving the organization. He will stay at the company for an advisory period until the end of this year. Mr. Kelly previously served as president and chief executive officer of the CBS Outdoor business beginning in 2003 and, prior to that, held various executive roles. Commenting on the departure, Jeremy Male, chief executive officer of CBS Outdoor, said: "Wally has been a true industry visionary and pioneer for more than three decades. CBS Outdoor has been well served by his leadership and we are grateful for his many contributions to the company. We wish him well in his future endeavors." A 35-year veteran of the out-of-home advertising industry, Mr. Kelly is the only three-term chairman of the Outdoor Advertising Association of America (OAAA), the industry's leading trade association....
21Jul2014
CBS Outdoor Americas Inc. Announces Acquisition of Premium Outdoor Assets from Van Wagner Communications LLC
Acquisition of highly complementary major market billboard portfolio Leverages CBSO operating expense infrastructure Immediately accretive to AFFO per share CBS Outdoor Americas Inc. (NYSE:CBSO) announced today that it has executed a definitive agreement to acquire certain outdoor advertising businesses from Van Wagner Communications, LLC for $690 million in cash. CBSO will acquire approximately 1,100 large format billboard displays in 11 top U.S. markets. Total 2013 revenues of the acquired assets were $206 million. “We’re very pleased to be announcing an exciting transaction regarding this high quality group of outdoor assets,” said Jeremy Male, Chief Executive Officer. “It’s a unique opportunity that aligns perfectly with our top-market growth strategy and will enhance the scale, quality, and depth of our portfolio which we believe will be great for our advertising partners. Further, we expect the Van Wagner assets to contribute significantly to our REIT operations, driving...
17Jul2014
CBS Outdoor to Report Second Quarter 2014 Results on Thursday, August 7
CBS Outdoor Americas Inc. (NYSE:CBSO) announced today that it will report results for the quarter ended June 30, 2014 before the market opens on Thursday, August 7, 2014. The earnings announcement will be available in the Investor Relations section of the Company's corporate website, www.cbsoutdoor.com . The Company will host a conference call to discuss the results on August 7, 2014 at 8:30 a.m. Eastern Time. The conference call number is 888-665-1282 (U.S. callers) and 760-536-8555 (International callers) and the passcode for both is 74114351. Live and replay versions of the conference call will be webcast in the Investor Relations section of www.cbsoutdoor.com . A telephone replay will be available beginning the same day at 12:00 p.m. Eastern Time at 855-859-2056 or 404-537-3406 and the passcode for both is 74114351. About CBS Outdoor Americas Inc. CBS Outdoor is one of the largest out-of-home media companies in the Americas and has a major presence in top markets throughout the...
16Jul2014
CBS Outdoor Announces Completion of Separation from CBS Corporation and REIT Conversion
Well Positioned to Grow Shareholder Value CBS Outdoor Americas Inc. (NYSE:CBSO) announced today its full separation from CBS Corporation (NYSE:CBS) through the completion of an exchange offer by CBS Corporation of its 81% ownership of the Company's common stock, and following an initial public offering of 19% of the Company's common stock on March 28, 2014. As a result, the Company is no longer a subsidiary of CBS Corporation. On July 17, 2014, the Company will begin operating as a real estate investment trust ("REIT") and intends to elect and qualify to be taxed as a REIT for the remainder of the fiscal year ending December 31, 2014 and for subsequent tax years. The Internal Revenue Service issued a private letter ruling on April 16, 2014 with respect to certain issues relevant to the Company's qualification to be taxed as a REIT. "Achieving our independence and beginning to operate as a REIT are two important steps in our strategic transformation with significant benefits for...
15Jul2014
CBS Corporation Announces Final Results Of CBS Outdoor Exchange Offer
CBS Corporation (NYSE: CBS.A and CBS) today announced the final results of its offer to shareholders to exchange their shares of CBS Class B Common stock for up to 97 million shares of CBS Outdoor Americas Inc. (NYSE: CBSO) common stock that are owned by CBS. The exchange offer expired at 12:00 midnight, New York City time, on July 9, 2014. Under the terms of the offer, 2.1689 shares of CBS Outdoor common stock will be exchanged for each share of CBS Class B common stock accepted in the offer. CBS accepted 44,723,131 of the tendered shares in exchange for 97 million shares of CBS Outdoor common stock owned by CBS. Because the exchange offer was oversubscribed, CBS accepted tendered shares of CBS Class B common stock on a pro rata basis in proportion to the total number of shares validly tendered and not validly withdrawn. Shareholders who owned fewer than 100 shares of CBS Class B common stock, or an "odd lot," and who validly tendered all of their shares, were not subject to...
10Jul2014
CBS Corporation Announces Preliminary Results Of CBS Outdoor Exchange Offer
CBS Corporation (NYSE: CBS.A and CBS) today announced that based on preliminary results, its previously announced offer to its shareholders to exchange their shares of CBS Class B common stock for up to 97 million shares of CBS Outdoor Americas Inc. (NYSE: CBSO) common stock that are owned by CBS was oversubscribed. The exchange offer expired at 12:00 midnight, New York City time, on July 9, 2014. Under the terms of the exchange offer, 2.1689 shares of CBS Outdoor common stock will be exchanged for each share of CBS Class B common stock accepted in the exchange offer. According to the exchange agent, Wells Fargo Bank, N.A., 304,086,134 shares of CBS Class B common stock were tendered prior to the expiration of the exchange offer, including 100,151,366 shares of CBS Class B common stock validly tendered and not validly withdrawn and 203,934,768 shares of CBS Class B common stock that were tendered by notice of guaranteed delivery. CBS has accepted 44,723,131 of the tendered shares in...
17Jun2014
CBS Outdoor Announces Agreement to Acquire Windsor Outdoor in Chicago
CBS Outdoor Americas Inc. (NYSE:CBSO) announced today that it has signed a purchase agreement with Windsor Outdoor to acquire in excess of 35 billboard structures with over 70 display faces in the City of Chicago, Illinois and the surrounding metropolitan area. Closing is expected in the fall of 2014. "We are very excited to announce this tuck-in acquisition of Windsor Outdoor billboards into our portfolio. We believe that the locations of these billboards along the main corridors into and around downtown Chicago and Chicago O'Hare Airport will be complementary to our existing displays in the area, and is consistent with our top-market focus," said Jeremy Male, Chief Executive Officer of CBS Outdoor. About CBS Outdoor Americas Inc. CBS Outdoor Americas Inc. (NYSE: CBSO) is one of the largest lessors of advertising space on out-of-home advertising structures and sites across the U.S., Canada and Latin America. Our portfolio primarily consists of billboard displays, which are...
13Jun2014
Company Profile for CBS Outdoor Americas Inc.
-( BUSINESS WIRE )-CBS Outdoor Americas Inc. (NYSE: CBSO) is one of the largest lessors of advertising space on out-of-home advertising structures and sites across the U.S., Canada and Latin America. Our portfolio primarily consists of billboard displays, which are predominantly located in densely populated major metropolitan areas and along high-traffic expressways and major commuting routes. In addition, we have a number of exclusive multi-year contracts that allow us to operate advertising displays in municipal transit systems where our customers are able to reach millions of commuters on a daily basis. We have displays in all of the 25 largest markets in the U.S. and over 180 markets in the U.S., Canada and Latin America, including in some of the most heavily trafficked locations, such as the Bay Bridge in San Francisco, Sunset Boulevard in Los Angeles and Grand Central Station and Times Square in New York City. Company: CBS Outdoor Americas Inc. Headquarters Address : 405...
11Jun2014
CBS Corporation Launches the Split-Off of CBS Outdoor
CBS Corporation (NYSE: CBS.A and CBS) today announced plans to fully divest its 81% ownership in CBS Outdoor Americas Inc. (NYSE: CBSO) through an exchange offer that is expected to be tax-free for participating shareholders in the U.S. The exchange offer is anticipated to be the final step in the separation of CBS Outdoor following its initial public offering ("IPO") in April. Upon the split-off, CBS Outdoor intends to convert into a real estate investment trust ("REIT"). "We are very pleased to be taking this step toward completing our strategic transaction," said Leslie Moonves, President and Chief Executive Officer, CBS Corporation. "We fully believe that CBS Outdoor will continue to be successful as a stand-alone company. And for our part, CBS Corporation can focus on what we do best, which is invest, produce and distribute premium content across all platforms and all around the world." "CBS has been a great owner for many years, but as a wholly independent company, we believe we...
27May2014
CBS Outdoor Chief Executive Officer Jeremy Male to Participate in the Bank of America Merrill Lynch 2014 Global Telecom & Media Conference
CBS Outdoor Americas Inc. (NYSE:CBSO) announced today that Jeremy Male, Chief Executive Officer, is scheduled to present at the Bank of America Merrill Lynch 2014 Global Telecom & Media Conference in London, England on Tuesday, June 3, 2014 at 9:25 a.m. Eastern Time. A live and replay audio webcast will be available on the investor relations section of the Company's website at www.cbsoutdoor.com . About CBS Outdoor Americas Inc. CBS Outdoor Americas Inc. (NYSE:CBSO) is one of the largest lessors of advertising space on out-of-home advertising structures and sites across the U.S., Canada and Latin America. Our portfolio primarily consists of billboard displays, which are predominantly located in densely populated major metropolitan areas and along high-traffic expressways and major commuting routes. In addition, we have a number of exclusive multi-year contracts that allow us to operate advertising displays in municipal transit systems where our customers are able to reach millions...
12May2014
CBS Outdoor Chief Executive Officer Jeremy Male to Participate in the 42nd Annual J.P. Morgan Global Technology, Media and Telecom Conference
CBS Outdoor Americas Inc. (NYSE:CBSO) announced today that Jeremy Male, Chief Executive Officer, is scheduled to present at the 42 nd Annual J.P. Morgan Technology, Media and Telecom Conference in Boston, Massachusetts on Tuesday, May 20, 2014 at 9:20 a.m. Eastern Time. A live and replay audio webcast will be available on the investor relations section of the Company's website at www.cbsoutdoor.com . About CBS Outdoor Americas Inc. CBS Outdoor Americas Inc. (NYSE: CBSO) is one of the largest lessors of advertising space on out-of-home advertising structures and sites across the U.S., Canada and Latin America. Our portfolio primarily consists of billboard displays, which are predominantly located in densely populated major metropolitan areas and along high-traffic expressways and major commuting routes. In addition, we have a number of exclusive multi-year contracts that allow us to operate advertising displays in municipal transit systems where our customers are able to reach millions...
8May2014
CBS Outdoor Reports First Quarter 2014 Results
Revenues up 3.1% to $287.9 million, up 4.4% on a constant dollar basis Adjusted OIBDA of $75.6 million, up 5.6% on a comparable basis AFFO of $40.8 million, up 7.4% on a comparable basis Operating Income of $26.7 million; Net income of $8.4 million Quarterly dividend of $0.37 to be paid June 30 NEW YORK-( BUSINESS WIRE )-CBS Outdoor Americas Inc. (NYSE:CBSO) today reported results for the quarter ended March 31, 2014. “We are pleased with our successful IPO and the favorable private-letter ruling from the Internal Revenue Service with respect to the Company’s plan to convert to a real estate investment trust. We believe this structure, combined with the attractive growth dynamics of our industry, will create long-term value for stockholders.” “In our first quarter reporting as a public company, we delivered meaningful growth across all key metrics and geographies,” said Jeremy Male, Chief Executive Officer, “including solid growth in the U.S. business and greatly improved results in...
28Apr2014
CBS Outdoor Announces Quarterly Dividend
CBS Outdoor Americas Inc. (NYSE:CBSO) announced today that its Board of Directors has approved a quarterly dividend on the Company's stock of $0.37 per share. The dividend is payable on June 30, 2014, to stockholders of record on June 9, 2014. About CBS Outdoor Americas Inc. CBS Outdoor Americas Inc. (NYSE:CBSO) is one of the largest lessors of advertising space on out-of-home advertising structures and sites across the U.S., Canada and Latin America. Our portfolio primarily consists of billboard displays, which are predominantly located in densely populated major metropolitan areas and along high-traffic expressways and major commuting routes. In addition, we have a number of exclusive multi-year contracts that allow us to operate advertising displays in municipal transit systems where our customers are able to reach millions of commuters on a daily basis. We have displays in all of the 25 largest markets in the U.S. and over 180 markets in the U.S., Canada and Latin America,...
16Apr2014
CBS Obtains Favorable REIT Ruling From The IRS
CBS Corporation (NYSE: CBS.A and CBS) today announced that the Internal Revenue Service ("IRS") issued a favorable private letter ruling with respect to the Company's plan for its outdoor advertising subsidiary, CBS Outdoor Americas Inc. (NYSE: CBSO), to convert to a real estate investment trust ("REIT"). Earlier this month, CBS Outdoor completed an initial public offering of 19% of its shares. CBS plans to divest its 81% stake in CBS Outdoor through a tax-free split-off later this year. CBS Outdoor then plans to elect and qualify to be taxed as a REIT. "CBS Outdoor's conversion into a REIT will unlock its true value, and the completion of our Outdoor initiatives will enhance our ability to return capital to our shareholders," said Leslie Moonves, President and Chief Executive Officer, CBS Corporation. "We're very pleased with the way CBS Outdoor has launched as a public company, and with this favorable IRS ruling, we look forward to great success in the future." Certain statements in...
11Apr2014
CBS Outdoor to Report First Quarter 2014 Results on Thursday, May 8
CBS Outdoor Americas Inc. (NYSE:CBSO) announced today that it will report results for the quarter ended March 31, 2014 before the market opens on Thursday, May 8, 2014. The earnings announcement will be available in the Investor Relations section of the Company's corporate website, www.cbsoutdoor.com . The Company will host a conference call to discuss the results on May 8, 2014 at 8:30 a.m. Eastern Time. The conference call number is (888) 665-1282 (U.S. callers) and (760) 536-8555 (International callers) and the passcode for both is 29984470. Live and replay versions of the conference call will be webcast in the Investor Relations section of www.cbsoutdoor.com . A telephone replay will be available beginning the same day at 11:30 a.m. Eastern Time at (855) 859-2056 (U.S. callers) and (404) 537-3406 (International callers) and the passcode for both is 29984470. About CBS Outdoor Americas Inc. CBS Outdoor Americas Inc. (NYSE: CBSO) is one of the largest owners and operators of...
27Mar2014
CBS Outdoor Announces Pricing of IPO
CBS Outdoor Americas Inc., the outdoor advertising subsidiary of CBS Corporation, today announced the pricing of its initial public offering ("IPO") of 20 million shares of its common stock at a price to the public of $28.00 per share. The shares are expected to begin trading March 28, 2014, on the New York Stock Exchange under the ticker symbol "CBSO." The offering is expected to close on or about April 2, 2014, subject to customary closing conditions. In addition, CBS Outdoor has granted underwriters a 30-day option to purchase an additional three million shares at the initial public offering price, less underwriting discounts and commissions. At closing, CBS Corporation will own approximately 83% of CBS Outdoor (or approximately 81% of the outstanding stock if underwriters exercise their option to purchase additional shares in full). CBS plans to divest its shares through a tax-free split-off later this year. After CBS is fully divested, CBS Outdoor plans to convert into a real...

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