The Department of Justice has agreed to let Clear Channel Outdoor swap its Indianapolis billboards to Fairway for Fairway’s Atlanta billboards so long as the companies spin off certain billboards.  The transaction is part of a $150 million multiple market asset swap.  The swap was announced in March but was delayed by a Department of Justice concerns that the swap would reduce competition between the two companies in each market.

Under terms of the settlement agreement Clear Channel and Fairway must divest 13 billboard structures in Indianapolis to Circle City Outdoor and 44 billboard structures in Atlanta to Link Media.  You can find the DOJ press release and links to the related documents here.

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