In an unusual asset swap, Titan Worldwide announced Monday (July 21) it is adding the Dallas Area Rapid Transit system, which it takes from Lamar Advertising; Lamar is adding 30-sheet out-of-home inventory in Staten Island, N.Y., which it takes from Titan.
The swap strengthens Titan’s portfolio in transit, providing Titan with its first entre into Texas. For Lamar, the deal expands the media company’s portfolio in New York, where it recently added inventory through its recent purchase of Vista Media from Entravision Communications.
DART’s network of DART Rail, Trinity Railway Express and buses serve more than 200,000 passengers per day in 13 cities.
“As we continue to grow throughout the United States, we are quite pleased to be able to add Dallas, the fifth largest U.S. market, to our roster,” said Don Allman, president and CEO of Titan.
Since June 2004, Titan has been awarded 13 major-market public transit authority contracts. Dallas is the company’s 14th market.