Helping countries transition to free-market capitalism

Overview

Metropolis Media was formed by Robert Duggan in the mid-1990s to help people and companies in formerly communist countries transition to free-market capitalism.

Outdoor media networks were established in countries including Croatia, Macedonia, Slovenia, and Serbia to provide marketing opportunities, chiefly in the consumer products sector. Consumer advertising in these countries represented a major shift from the communist years of a centrally-planned economy. More than ten thousand outdoor media billboards were established in key locations throughout the region.

Duggan served as chairman of the board of Metropolis Media, having started the company with an initial investment of $3 million. Demian Duggan+ opened the business in Zagreb, Croatia, with the help of guarantees signed by the vice president of Bank of America, stipulating that Mr. Duggan and his associates had a seven-figure line of credit from the Bank; the bank valuation of their company was at least ten times that. The enterprise was sold to the US mutual fund Capital Research for over $45 million and is now owned by J.C. Decaux.