German outdoor giant to be sold

It is expected that Germany's largest outdoor advertiser, Deutsche Staedte-Medien (DSM), will soon be sold, possibly before the end of the year, to one of four bidders: U.S. media groups Viacom and Clear Channel, smaller German rival Stroer AG, and British private equity firm Apax Partners, which has teamed up with the advertising unit of German railway operator Deutsche Bahn. Pundits say the bids could come in as low as €150 million.