Remember Catalyst Outdoor, the company headed by Thaddeus Bartkowski. The company’s business model was to secure high profile locations for digital billboards by providing a dog park or a fountain or local park or city building to a municipality. Things haven’t gone according to plan… Here’s what Billboard Insider knows.
- 9 Catalyst billboard sites in New Jersey were auctioned by a receiver. The receiver’s webpage refers to a lawsuit between Catalyst and WPC Billboard Lender, an entity controlled by WP Carey.
- On Friday, the Inquirer announced that WP Carey purchased 11 billboard sites formerly owned by Catalyst Outdoor for $28 million. WP Carey is a publicly traded REIT which specializes in sales leasebacks and build to suit projects.
- In 2023 a group of former employees sued Thaddeus Bartkowski and Catalyst for breaches of fiduciary duty and breaches of contract. The case is supposed to be tried in September.
- Watchfire has a lawsuit pending against Catalyst Outdoor filed in the Illinois Central District Court of Judge Eric Long.
Billboard Insider’s take: Bartkowski made money on a 2018 asset sale but it sounds like his second go round didn’t end well.
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