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CBS Outdoor Americas announced today it plans to purchase Van Wagner Communications' billboard business, "a privately held company with outdoor advertising in New York's Times Square and on buses on the Las Vegas strip, for $690 million in cash," Reuters reports.
CBS said the deal includes some 1,100 large-format billboards in 11 domestic markets, which combined for a total revenue of $206 million last year. The deal, still subject to regulatory review, is expected to close later this year.
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