Earlier this year Arte Moreno, Ernie Garcia and Verde Investments were part of a group that purchased 7.3% of the stock of Clear Channel Outdoor.  They are at it again.  This week Garcia’s Verde Investments and Artie Moreno purchased 5.2% of OUTFRONT Media’s common stock.  Billboard Insider Values the groups OUTFRONT investment at $84.7 million as of October 24, 2023.

Billboard Insider’s take:  Moreno and Garcia must be betting on the long term turnaround of OUTFRONT’s transit and urban billboard business.

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