Grupo Abril, one of the biggest media groups in Brazil, has acquired 70% of Elemidia, the leading DOOH company in South America, for an undisclosed sum. Tiger Global, the hedge fund, which has been funding the company since 2006 [fr], has sold its share (estimated at around 50%).

The remaining 30% is held by the Forjaz family, which founded the company, and certain management figures.

Grubo Abril intends to integrate Elemidia into its multi-channel strategy and develop synergies with other active media in the group. The first example is editorial: from now on all news, cultural and entertainment content on the network’s screens will come from Abril’s various press and TV companies.

Elemidia, created in 2003, is currently active in 16 states of Brazil, as well as in Buenos Aires. Its networks total 5,700 screens installed in over 1,600 sites, and reach over 14 million people each week.