East Europe/News Corp./Outdoor Advertising

Reuters: News Corp. may buy out ad partner-NYT

"Media giant News Corp. is in talks to buy out the minority partner in its growing outdoor advertising business in Central and Eastern Europe for an undisclosed sum, The New York Times reported on Monday, citing a person involved in the venture."

"The unit, News Outdoors, has been built as a joint venture with the London-based private equity arm of the fund manager Capital International Inc., said the newspaper. Since 1999, the unit has been building a presence in advertising venues like billboards and bus shelters in eight countries that it refers to as "emerging Europe," said The New York Times."