Malvern-based Catalyst Outdoor Advertising has sold its Philadelphia billboard portfolio in two separate deals valued at between $80 and $90 million, writes Natalie Kostelni for the Philadelphia Business Journal.

The company sold almost half of its holdings to Clear Channel Outdoor Holdings and around 35 percent to Lamar Advertising. However, Catalyst still owns six digital signs and the total number of signs sold remains undisclosed.

The deal with Lamar was completed late last year, while the Clear Channel transaction took place earlier this month.

Catalyst was launched nine years ago by Thaddeus Bartkowski, who aggressively built his digital board portfolio. But a decade later, Bartkowski realized it was time to sell.

[uam_ad id=”58459″]

Advertisement

“The outdoor market is going through a consolidation in Philadelphia, and we wanted to take advantage of it,” he said.

He said that an additional factor was the desire to expand Catalyst’s footprint outside of the Philadelphia market. To do this, he felt the company should trim down its portfolio before launching a national platform.

“We want to build the largest digital network in the market,” said Bartkowski.

Read more about Catalyst Outdoor Advertising in the Philadelphia Business Journal here.

[uam_ad id=”72114″]