Ten has become the latest Australian media company to consider selling its outdoor advertising assets, informing the ASX that it is going through a strategic review that could lead to the sale of Eye Corp.
The news one month after APN sold half of APN Outdoor to Quadrant Private Equity, which followed not long after the sale of a chunk of oOh Media in late 2011.
The statement on the ASX read:
Ten notes recent media speculation regarding its out-of-home division EYE Corp and considers it appropriate to provide an update to the market.
In light of recent corporate activities within the Australian out-of-home industry, Ten Holdings is currently a strategic review and considering strategic options for EYE.
There is no certainty that the strategic review will result in a transaction or that any transaction will be completed.
The news also follows the recent exit of Eye’s CEO of Australia and New Zealand Mike Tyquin.