• Dean Manone on what’s next after Branded Cities Sale

    Dean Manone has 26 years experience in the out of home business.  He’s been a partner in Chicago’s Red Star Outdoor since 2001.  Yesterday Red Star announced the sale of a substantial portion of its assets to Branded Cities.   Insider talked with Manone about the asset sale and the future.

    What assets will Red Star retain after the Branded Cities sale?
    After this acquisition, Red Star will continue to operate approximately 20 locations with more to come
    Why did you sell?
    This has been our formula since Scott Goldstein and I started Red Star in 2001, we built the plant to about 40 locations, then in 2005 we sold about half to Clear Channel.  Since then we have been actively growing our marketshare in downtown Chicago.  We were recently  approached by Branded Cities and felt it was time to let go of some of our prized possessions.
    What will you do?
    We love the people, so we have no plans to leave the industry.   Who knows, one day our kids may be running Red Star, but until then we will continue developing iconic locations throughout the City of Chicago, with an eye on other markets.

     


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