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CBS is bulking up its international footprint in out-of-home, announcing Thursday it has acquired International Outdoor Advertising Group, the leading out-of-home company in South America, for $110 million cash. The deal expands CBS Outdoor’s presence in Latin America, adding more than 17,000 advertising faces in in Argentina, Brazil, Chile and Uruguay.
Jack Sabaj, CEO of IOA will continue to manage the business, reporting to Antonio Alonso, chief development officer for CBS Outdoor International and previous general manager of CBS Outdoor in Spain.
“Outdoor
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