---
schema_version: "secwatch.filing_event.v1"
accession: "0001579877-23-000084"
form_type: "8-K"
ticker: "OUT"
cik: "0001579877"
company_name: "OUTFRONT Media Inc."
filed_at: "2023-10-23T23:59:59+00:00"
generated_at: "2026-06-09T16:41:50.123202+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# OUTFRONT sells Canadian outdoor advertising unit to Bell Media for C$410M cash

## Summary
- Sale of all equity in Outdoor Systems Americas ULC to Bell Media for C$410 million in cash, subject to working capital and other adjustments.
- Transaction expected to close in 2024, conditioned on Canadian antitrust approval and absence of material adverse effect.
- If antitrust approval not obtained by outside date (Oct 22, 2024) and not due to sellers, Bell pays C$20M termination fee.
- Vendors covenant not to compete with Canadian business for five years post-closing; customary indemnities apply.
- Proceeds will be used for general corporate purposes; OUTFRONT retains its U.S. and other international operations.

## SEC filing metadata
- accession: 0001579877-23-000084
- form_type: 8-K
- ticker: OUT
- cik: 0001579877
- company_name: OUTFRONT Media Inc.
- filed_at: 2023-10-23T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1579877/000157987723000084/0001579877-23-000084-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1579877/000157987723000084/out-20231023.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001579877-23-000084
- JSON: https://secwatch.observer/filing/0001579877-23-000084.json
- Plain text: https://secwatch.observer/filing/0001579877-23-000084.txt

## Key facts
- Material Agreements
  OUTFRONT Media Inc. entered into Share Purchase Agreement with Bell Media Inc. valued at C$410.0 million in cash (effective 2023-10-22).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Bell Media Inc.
  - Value: C$410.0 million in cash
  - Effective: 2023-10-22
  source text: On October 22, 2023, OUTFRONT Media Inc. (the “Company”), Outfront Canada HoldCo 2 LLC, a wholly-owned subsidiary of the Company, and Outfront Canada Sub LLC, a wholly-owned subsidiary of the Company (together, the “Selling Subsidiaries”), entered into a Share Purchase Agreement (the “Share Purchase Agreement”) with Bell Media Inc. (the “Buyer”), relating to the sale of the Company’s outdoor advertising business in Canada (the “Canadian Business”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1579877/000157987723000084/0001579877-23-000084-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.