“Is It True That Folks Are Bidding For Ocean Outdoor?” we wrote back in March and although it was strongly denied by all we said were involved AND we said that the sale process would be complete by Easter we can bring you an update.
Rumour in the UK is that Ocean Outdoor will be sold within the next four weeks. The bidder is likely to be another VC firm (Ocean is already owned by Smedvig Capital). Mind you, some in the UK believe that the new owner is actually a ‘front’ for another media owner who doesn’t want to cannibalise their existing OOH sales .. umm I wonder who that could be 😉
Mind you at least this way Ocean’s good work will continue and not be affected and Ocean’s management team will stay in place.