Providence Equity Acquires Multi-Decade Lease for Iconic Times Square Billboards
Providence Equity Partners (“Providence”), a premier private equity firm specializing in growth-oriented investments in media, communications, education and technology, today announced it has acquired a multi-decade lease for nine marquee billboards at Two Times Square (“2TS”) and 1600 Broadway from Universal Branding Group (“UBG”).
- Providence Equity Partners (“Providence”), a premier private equity firm specializing in growth-oriented investments in media, communications, education and technology, today announced it has acquired a multi-decade lease for nine marquee billboards at Two Times Square (“2TS”) and 1600 Broadway from Universal Branding Group (“UBG”).
- “We are thrilled to acquire these assets, which are among the most premium digital billboard signs in one of the most highly trafficked locations on the planet – Times Square,” said Lucy Dobrin, Managing Director at Providence.
- This transaction is a wonderful opportunity to expand our nearly 3-year partnership with OUTFRONT through this new investment in Times Square.
- We are excited about the opportunity to operate them in partnership with Providence for many years to come.