It is no longer news that Globacom, a leading GSM operator in Nigeria recently canceled her Out-of-Home media contracts with all Outdoor Media Owners. This became effective few months ago when the company was reported to have sent out written letters to all Outdoor Media owners who signed renewal contract with the telecoms giant.
The details and reason behind the wholesome cancelation could not be ascertained but industry watchers believe it has to do with the economic recession. It is no gain saying that Globacom has contributed for many years now to the Out-of-Home advertising spend in Nigeria.
Others feel that the Outdoor Media Owners would be rallying to approach the telecommunication giant with a view to find a better way of resolving. Generally, it is believed and expected that the terms of the contract in respect of cancelation by either party ahead of the end of contract tenure would prevail.
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