SEPTA's board of directors Thursday approved an advertising contract that will pay the transit authority at least $150 million over nine years.
SEPTA retained its current advertising company, Titan Outdoor L.L.C., of New York, to acquire and install ads on SEPTA vehicles and stations.
The contract calls for SEPTA to receive 65 percent of ad revenues, while Titan will collect 35 percent. SEPTA's minimum guaranteed revenue will be $75.8 million for the first five years, with $35.4 million and $38.7 million in two additional, two-year options.
Editors Note: This story was revised to correct the term of the contracts.
- Paul Nussbaum