The City of Toronto announced Monday afternoonthat a lucrative street furniture contract has been awarded to Astral Media.
Astral was one of three finalists vying for the contract to supply the city with all its street furniture over the next 20 years in return for the right to advertise on them.
Under the deal, the Canadian media company will provide all the city's bus shelters, garbage cans, newspaper boxes and public washrooms in a uniform design.In total,the company will supply about25,000 pieces of furniture.
The contract is expected to win approval at next week's executive committee meeting.
Clear Channel and CBS Outdoor were the other two companies competing for the contract.
The city will earn more than $400 million over the life of the contract.
The winning company will be able to recoup costs from exclusive rights to advertise on the furniture.