An IPO for Billboards: 19th Century Tech, Premium Price

Photograph by David Cooper/Toronto Star via Getty Images

Nothing demonstrates localized, targeted marketing quite like a giant sign looming over a roadway. As Silicon Valley rushes a bunch of half-baked, unprofitable businesses to Wall Street, CBS is hawking a hunk of its billboard unit—an old-fashioned advertising technology with state-of-the-art profits.

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