The Metro Board of Directors voted seven to two Thursday morning to award a five-year advertising contract to CBS Outdoor Group. Under the terms of the deal, CBS Outdoor will pay Metro $110 million for the rights to sell advertising on Metro buses, trains and property for the next five years.
The contract was fiercely contested between CBS Outdoors and Titan Outdoor and the Board was unable to reach a decision earlier this fall. Titan offered $7.25 million more for the contract. But Metro staff had concerns about Titan’s ability to meet the terms of the contract and recommended CBS.
Here is the key page from the staff report: