Maiden Expands Portfolio Of Irish Poster Sites

Maiden Outdoor has expanded its portfolio of Irish poster sites, with the acquisition of a number of ad panels from National Outdoor Displays.

The deal, which was finalised last Friday, valued the sites at £166,700 and will see National Outdoor receive 30,000 ordinary shares in Maiden, as well as £102,902 in cash for the sites.

Earlier this month Maiden revealed that its turnover is not likely to achieve the levels anticipated at the release of the group’s financial results in September (see Maiden Pushed Into Red By Tough First Half). The group has also been plagued by continued speculation that French outdoor company, JCDecaux, is set to make a take-over bid.

According to Maiden, it is too early to predict an ad recovery in 2003: “Advertising lead times remain short and general advertiser demand is still inconsistent. The significant international political and macro economic uncertainties could yet undermine any short-term signs of recovery in the UK media sector,” it warns.

A clearer picture of the market should be available when Maiden releases its preliminary results in March.

Maiden recently secured a deal that will see BBC News 24 broadcast across its Transvision Network of screens in London train stations, after ITN decided not to renew its contract with the group (see Maiden Secures BBC News 24 For Transvision Network).

Maiden: 020 7838 4000 www.maiden.co.uk

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