Reuters: Private Equity: UPDATE 1-Australia's Ten mulls sale of EYE ads unit

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UPDATE 1-Australia's Ten mulls sale of EYE ads unit Mar 18th 2012, 23:15 Sun Mar 18, 2012 7:15pm EDT MELBOURNE, March 19 (Reuters) - Australia's third-ranked TV network, Ten Network Holdings Ltd, said it is considering selling its outdoor advertising business Eye Corp, following a spate of consolidation in the fast-growing outdoor ad market. Local media said the business could fetch more than A$130 million and had attracted interest from local rivals. "In light of recent corporate activities within the Australian out-of-home industry, Ten Holdings is currently undertaking a strategic review and considering strategic options for EYE," Ten said in a statement. Earlier this year, private equity group CHAMP bought listed outdoor advertiser oOh!media Group Ltd for A$163 million, while another buyout firm Quadrant Private Equity is in talks with APN News and Media to expand its outdoor ads business with a 50-50 joint venture. While advertising revenues are declining across print and television networks, the outdoor ad space has proved resilient in recent years, including billboards and ads on public transport. The Australian Financial Review said in a report that Ten's adviser UBS would also target firms including Clear Channel and JC Decaux for the EYE unit, which also has operations in the UK and United States.

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