CP Media buys Eye Airports to create £5m turnover business
Outdoor advertising specialist CP Media has acquired Eye Airports, the market leader in UK regional airport advertising, to create a combined business with a turnover of £5m.
Harrogate-based Eye Airports has the advertising and promotional rights for 19 UK regional airports, including Newcastle, Bristol, Exeter, Inverness, Derry, Humberside, Newquay and the Scottish Highlands and Islands.
Community Partners Ltd, which trades as CP Media and is headquartered in Halifax, provides direct media sales services to UK local authorities and companies. CP Media has doubled its workforce and turnover in the last 18 months and is now building on this organic growth with strategic acquisitions and partnerships.
The acquisition of Eye Airports adds 80 digital sites and more than 500 outdoor sites to CP Media’s existing portfolio of more than 3,000 advertising sites, which are situated in some of the UK’s busiest city and town centre locations.
Rachel Davies, who led a management buy-out of Eye Airports in August 2017, will continue as Managing Director of the company, which will operate as a separate subsidiary. Davies also joins the CP management team.
She said: “The next phase of our growth needs considerable investment in data, technology and ever more sophisticated marketing. Becoming part of CP Media with its expertise, energy, enthusiasm and experience will give the Eye team the tools to take our unique, targeted media opportunities to an even wider audience.”
Mike Brennan, Chief Executive of CP Media, added: “Airport advertising is a fascinating business which provides advertisers with a unique platform to engage with many thousands of passengers every day who have lots of time on their hands.
“Eye Airports’ growing digital offering also now means that these passengers can immediately purchase a product or service. Digital advertising is an area of great long-term interest to me and with their specialism in selling to the regional marketplace, Eye Airports and their great team led by Rachel Davies are a perfect fit for CP Media, as we pride ourselves on being regional and digital advertising specialists.”
Out-of-home advertising is expected to be a £1bn a year industry in the UK this year, with digital formats expected to account for 50% of this, according to a recent report by Group M, the media buying arm of WPP.