Platinum Equity Puts Up $225M For CBS Billboard Unit

Law360, New York (July 16, 2013, 4:38 PM EDT) -- Media titan CBS Corp. on Tuesday agreed to sell its international billboard business to Los Angeles private equity outfit Platinum Equity LLC for $225 million as it waits for permission to reshuffle its remaining U.S. billboard assets into a real estate investment trust.

The sale comes after New York-based CBS said early this year that it would shop the unit, CBS Outdoor International, which has operations in the U.K., Ireland, France, Italy, the Netherlands, Spain and China. The television mainstay is waiting on approval from the...
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