The joke’s on someone at Australia’s biggest billboards company, oOh!media.Public markets investors can’t wait to sell it for $1.04 billion or 7.5-times EBITDA (historical or forecast, they’re both about the same), viewing this as a highly cyclical advertising business at the forefront of the rates/consumer sentiment/economic cycle that is only as good as Australians’ ability to keep spending and is up against the big structural shift to digital media.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles