Insider reported yesterday that Outfront stock had risen on rumors of a tentative contract between Outfront Media and the New York Metropolitan Transportation Authority for advertising and communications franchises for subways, commuter rails and buses. The last detail required was approval from the Board of Directors of the MTA.

Outfront announced in a press release yesterday that the MTA board approved the contract.  Outfront plans to deploy over 50,000 digital displays as well as management of over 500 billboard locations for the MTA. You can expect a push to upgrade signs to digital and expansion of their OnSmart Media platform.

The stock market responded well with a 15% increase in Outfront’s stock price since closing last Friday.

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