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A billboard facing the vehicles entering Toronto from the west can be seen beside the Gardiner Expressway.
A billboard facing the vehicles entering Toronto from the west can be seen beside the Gardiner Expressway.
(Fernando Morales/Fernando Morales/The Globe and Mail)

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REITs explore new territory with telcos, media

The hunger for real estate investment trusts may not end with retailers.

South of the U.S. border, a roster of American telco and media companies are experimenting to extract value.

About a week ago, CBS Corp. announced plans to spin its outdoor North American assets (billboards) into a REIT, and Cincinnati Bell Inc. just spun out its data centre division into a REIT.