CBS plans to spin off its Americas outdoor advertising division in IPO that could raise upwards of $400 million

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CBS Outdoor Americas, a spin-off of CBS's North & South American outdoor advertising division, filed on Thursday with the SEC to raise up to $100 million in an initial public offering, though that figure is likely just a placeholder. We estimate that the offering will raise at least $400 to $500 million. The New York, NY-based company, which booked $1.3 billion in sales for the 12 months ended March 31, 2013, has yet to announce its exchange or its ticker. The company's initial filing did not list the bookrunners on the deal. No pricing terms were disclosed.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

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