The acquisition, which is effective 3 December 2004, provides Outdoor Network with a number of landmark advertising sites including the famed Ponti Vodacom site in Johannesburg, while at the same time broadening its coverage of the Gauteng and Western Cape markets considerably.
"Outdoor Network's acquisition of Nail Outdoor has strengthened its position as the third largest player in the outdoor arena and will bring its annual billings to well over R85m in the first full year of operation. In addition to greater coverage of the South African Market this latest acquisition will enable Outdoor Network to provide significant offerings in Sub Saharan Africa and create a springboard for further expansion into these areas," says the group chairman Zwelakhe Sisulu.
As one of the leading empowerment outdoor media houses, Outdoor Network is committed to ensuring future growth through acquisition while not discounting the opportunities and benefits that organic growth provides to the many small and medium enterprises that maintain and service its media plant.
"Our position as a major player in the out of home and ambient media industries places a responsibility on us to ensure that black economic empowerment is spread to the broadest possible level of our society," says Sisulu.
