Quebecor to acquire Neo
By Derek Winkler
Quebecor Out-of-Home has reached an agreement in principle with Media Group to aquire out-of-home media company Neo. The deal encompasses approximately 3,000 advertising faces in shopping malls, fitness centres, gas stations and convenience stores in nine provinces, as well as mobile advertising. The agreement is expected to close in several weeks. Quebecor Out-of-Home is a subsidiary of Quebecor.
“We are very pleased to have reached this agreement in principle with Neo, a solid company with which we share values of excellence in both performance and customer service,” said Pierre Karl Péladeau, president and CEO of Quebecor. “By combining Neo's Canada-wide strength with Quebecor Out-of-Home's unrivalled depth in Quebec, we'll be able to offer our local and national advertising partners an even more comprehensive suite of impactful solutions. This acquisition will enable Quebecor to pursue its growth across the country and become a major out-of-home player in Canada.”