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Chicago’s Project Outdoor Enters JV on Wall Displays
New Tradition Media, an out-of-home media company headquartered in New York, has acquired Chicago wall spectaculars and bulletin displays from Project Outdoor. As part of the transaction, the parties have agreed to a joint venture for additional high-profile displays previously developed by Project’s founder, Walid Abu-Ghazaleh.
New Tradition’s purchase includes premium wall spectaculars in River North and Lincoln Park. The deal also includes bulletin structures in River West and Goose Island, both of which will target the planned $1.7-billion Bally’s casino.
In addition to the acquisition, the JV governs other existing high-profile sites in key Chicago neighborhoods like the Loop, West Loop, Wicker Park and Logan Square.
New Tradition COO Bret Richheimer said, “We are excited to expand our Chicago footprint. These new displays are terrific. These additions to our inventory will help us better serve our valued advertising partners that desire downtown coverage of the nation’s third-largest media market.”
- ◦Sale/Acquisition
