Mega Profile Rumoured To Be In Takeover Talks

Outdoor advertising company Clear Channel UK is believed to be in talks with giant poster contractor Mega Profile about a possible take-over that could save the company from the prospect of closure.

Mega Profile has been one of the pioneers of large-format banner advertising since the format was imported from Continental Europe in the late nineties. However, the company is thought to have been under pressure to find a buyer after a number of financial setbacks.

Industry reports claim that Mega Profile chief executive Simon Evans, along with the company’s directors, told their 23 staff that they were unable to pay their salaries this month unless they could secure a take-over deal in the next few days.

Clear Channel has been moving to increase its portfolio of giant banner sites and recently took over advertising sales on Fort Dunlop in the Midlands, the UK’s largest advertising site, from Mega Profile.

Last year Clear Channel launched a banner advertising division to handle its nation-wide portfolio. The division is based in Scotland and is headed by former managing director of Score Outdoor Scotland, Roseanne Grant (see Clear Channel Launches New Banner Division).

Poster specialist Outdoor Connection valued the UK giant banner sector at around £500,000 in 1998. It is estimated that spend reached in excess of £16 million last year, with growth of between 20% to 25%, more than double that for outdoor as a whole (see NewsLine Column: The Future Of Giant Banner Advertising).

Clear Channel: 0207 478 2928 www.clearchannel.co.uk

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