CBS Outdoor in Tube dispute

Billboard provider CBS Outdoor threatened to walk away from a £1bn contract with London Underground yesterday over the spiralling costs of installing digital screens across the Tube network. CBS gave notice that it would terminate its contract, which covers 33,000 poster sites and 88,000 panels in Tube carriages, unless it could agree new terms with London Underground. It is suing LU over the costs of the investment in new screens and could stop running adverts in March 2012 if it ends the contract. LU said it had met all its obligations to CBS.