JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announced that the New York City Franchise and Concession Review Committee (FCRC) voted yesterday unanimously to consent to the change in control to JCDecaux of CEMUSA, Inc., owner of CEMUSA NY LLC which holds the 20-year New York City Street Furniture Franchise Agreement. The agreement expires in June 2026.
The FCRC consists of four Mayoral appointees, the independently elected Comptroller and the five separately elected Borough Presidents.
The amended Franchise Agreement with New York City, acting through its Department of Transportation (“DOT”), will take effect once registered by the New York City Comptroller, who voted as a member of the FCRC to approve the takeover by JCDecaux. Registration is required within 30 days after transmittal by DOT which is expected to occur promptly.
This decision paves the way for JCDecaux to close on, before the end of October, the acquisition of 100% of CEMUSA – an FCC Group subsidiary dedicated to outdoor advertising – based on an agreement signed in March 2014. With 57,000 advertising panels, CEMUSA generated revenues of €130 million in 2014.
Jean-François Decaux, Chairman of the Executive Board and Co-CEO of JCDecaux, said: “We are very pleased and honored that the Mayor, the Comptroller and the five Borough Presidents all approved JCDecaux to become New York City’s street furniture partner, to operate 3,500 advertising bus shelters and 314 advertising newsstands. The New York City street furniture contract will complement and strengthen JCDecaux’s street furniture advertising network throughout North America, which already includes Los Angeles, Chicago, San Francisco and Boston."
- 2014 revenues: €2,813 million; H1 2015 revenues: €1,460 million
- JCDecaux is listed on the Eurolist of Euronext Paris and is part of the Euronext 100 index
- No. 1 worldwide in street furniture (491,950 advertising panels)
- No. 1 worldwide in transport advertising with 140 airports and 279 contracts in metros, buses, trains and tramways (379,060 advertising panels)
- No. 1 in Europe for billboards (180,590 advertising panels)
- No. 1 in outdoor advertising in the Asia-Pacific region (215,350 advertising panels)
- No. 1 in outdoor advertising in Latin America (51,150 advertising panels)
- No. 1 in outdoor advertising in Africa (36,000 advertising panels)
- No. 1 worldwide in self-service bicycles and a pioneer in soft mobility
- 1,078,370 advertising panels in more than 70 countries
- Present in 3,700 cities with more than 10,000 inhabitants
- 12,300 employees