Netflix Eyeing $300M Deal For LA Billboard Company: Report

LOS ANGELES (CBSLA) — Netflix is reportedly offering over $300 million for a company that owns billboards across Southern California, including along the famed Sunset Strip in West Hollywood.

The streaming media giant isn't the only bidder for Los Angeles-based Regency Outdoor Advertising, and it's unclear whether the bid will be successful, according to Reuters.

Netflix is apparently ramping up its marketing budget to over $2 billion for its original content following the company's previous billboard campaigns for "Stranger Things" and "The Crown".

Co-owned by Drake and Brian Kennedy, Regency Outdoor also boasts billboards along major freeways, at LAX, and near the UCLA campus and the Los Angeles Angels of Anaheim stadium.

Billboard ads for Netflix are increasingly common around L.A., and most recently made a splash with a "breathing" West Hollywood bus stop ad for "Altered Carbon".