OUTFRONT Media (NYSE:OUT) and Bell Media, a wholly-owned subsidiary of BCE (NYSE:BCE), announced today the completion of the sale of OUTFRONT Media’s Canadian operations to Bell Media.

The transaction was valued at C$410 million in cash, subject to certain purchase price adjustments.

Jeremy Male, Chairman and Chief Executive Officer of OUTFRONT Media, emphasized the strategic importance of the sale, stating, “The sale of our Canadian business illustrates the inherent value of our out-of-home assets, and will enable us to proactively reduce our financial leverage and also focus entirely on operating what is now a fully domestic business here in the United States.”