1987 !!hot!! — Billboard Sold For $100 Million

💡 While $100 million was a massive sum in 1987, it’s worth noting that the first concert tours to gross over $100 million also occurred during this same period (Michael Jackson’s Bad tour and Pink Floyd’s Momentary Lapse of Reason tour).

The $100 million price tag was a massive leap from the $40 million that , a private equity firm, had paid to the company’s founder, William Littleford, in 1984. The 150% increase in value over 36 months was driven by a radical financial turnaround. Under the leadership of President Gerald Hobbs, the company saw its revenues grow by 33% in a single year, with improved profit margins and leaner overhead. billboard sold for $100 million 1987

If your memory is tied to pop culture and 1987 , you are likely remembering the Nicole Meyer "GUESS" model lawsuit where she sued for $100 million. If your memory is tied to business news , you are likely remembering the sale of Gannett Outdoor for $100 million (which occurred in 1985). 💡 While $100 million was a massive sum