JCDecaux wins £500m TfL contract

Transport for London: contract is worth up to £100 million a year for an initial five years

Transport for London is set to appoint JCDecaux to handle the £500 million business for its street furniture in a move that will shake up the outdoor ad industry.

Sources said TfL has selected JCDecaux as its preferred partner but that the decision is subject to a ten-day standstill period. That period is expected to conclude by 20 July, after which a formal appointment will be made.

Clear Channel UK has held the business since 2005 and maintains more than 30,000 bus shelters and bus-stops in London. As part of the agreement, it sells advertising on 5,000 sites. The loss of the contract is likely to prompt big changes at Clear Channel.

In a separate process, TfL is tendering the contract to sell advertising on the London Underground. Exterion Media, the incumbent, is facing competition from JCDecaux and Clear Channel.