Ellman Buys Clear Channel Branded Cities
Gail Chiasson, North American Editor
The Ellman Companies, Phoenix, has acquired all of Clear Channel Outdoor’s majority interest in Clear Channel Branded Cities, a landmark signage and activation venture, making Ellman the 100% owner of Branded Cities.
Branded Cities maintains outdoor signage in Phoenix, Denver and Las Vegas.
Clear Channel and Ellman have had a long-running joint partnership. The Ellman Companies is one of the largest and most innovative investors and developers of mixed-use, retail, entertainment, office, hospitality and residential real estate, with more than 88 companies and properties throughout the U.S., Canada and the Caribbean.
“This is a good deal for both parties,” says Ron Cooper, president and CEO, Clear Channel Outdoor. “Clear Channel will remain focused on strengthening its traditional outdoor business including expanding its digital networks, and Branded Cities will focus on landmark signage integrating activation and sponsorship. We are both bullish about the future of the outdoor advertising industry.”
Steven Ellman, chairman and CEO of Ellman says, “We have been partners with Clear Channel for 12 years. We continue to be their partner in Clear Channel Canada, and we look forward to working with Clear Channel in other ventures. Meanwhile, we will continue to cultivate our current assets and expand our spectacular signage platform, providing iconic advertising in iconic locations.”
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