|Viacom Decaux signs with City of Los Angeles largest Street Furniture contract in US history|
JCDecaux SA - 9 January 2002 (JCDecaux, Euronext Paris:DEC) announced today that Viacom Decaux LLC - a 50:50 joint venture between Viacom Outdoor Advertising, a subsidiary of Viacom Inc and JCDecaux in the USA, has now signed with Los Angeles, following recent city council final approval, the largest street furniture contract in US history.
The Viacom Decaux contract which is expected to generate some €900 million in advertising revenues during its 20-year lifetime will provide the City of Los Angeles with 2,500 bus shelters, 150 automatic public toilets and 700 free standing public service information kiosks. This major contract will provide a total of 5,820 backlit panels. Los Angeles, with a population of 3.7 million, is the largest outdoor advertising market in the US. The initial capital investment by Viacom Decaux will be some €70 million.
In addition, the Viacom Decaux partnership will now expand into the whole of California.
Commenting Jean-Francois Decaux, Chairman and Co-CEO of JCDecaux, said:
“ We are delighted to be providing the Los Angeles community and advertisers alike with a well designed street furniture programme. This is a significant contract win and reflects our innovative designs and the track records of both JCDecaux and Viacom.
“The creation of Viacom Decaux represents the first time that JCDecaux and Viacom have linked-up. The 50:50 partnership was formed to bid for the Los Angeles City street furniture contract and combines Viacom's leading position in the outdoor advertising market in the US with JCDecaux's considerable experience in street furniture advertising and design.
“Following our success in November in Chicago, JCDecaux has now established a strong presence in three of the four largest advertising markets in the US.”
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