Finance

Link Media Buys Vision Outdoor

Link Media has closed on the purchase of Atlanta-based Vision Outdoor.  Vision owns 3 billboard structures structures consisting of 4 Formetco digital billboards and 2 static billboards.  The digital signs are on I-285 in Atlanta and Highway 41 in Acworth Georgia. Link Media’s parent Boston Omaha priced its IPO at $13.00 last week which equates to a $91 million market cap.  Insider expects to see more acquisitions from Link. Paid Advertisement

by billboardinsider· · 0 comments · Finance

iHeartCommunications, Inc. Announces Extension of Private Offers

June 08, 2017 06:45 AM Eastern Daylight Time SAN ANTONIO–(BUSINESS WIRE)–iHeartCommunications, Inc. (“iHeartCommunications”) today announced that it is extending the private offers (the “Exchange Offers”) to holders of certain series of iHeartCommunications’ outstanding debt securities (the “Existing Notes”) to exchange the Existing Notes for new securities (the “New Securities”) of iHeartMedia, Inc., CC Outdoor Holdings, Inc. and iHeartCommunications, and the related solicitation of consents (the “Consent Solicitations”) from holders of Existing Notes to certain amendments to the indentures and security […]

by John Weller· · 0 comments · Finance

Link Media’s Parent Planning IPO

Boston Omaha, the parent company of out of home operator   Link Media plans to raise $71.5 million via an IPO.  The IPO is expected to price during the week of June 12, 2017.  Boston Omaha’s owners Magnolia Capital Fund and Boulderado Partners will buy $47 million of the new equity.  Boston Omaha was organized in 2009 to make investments in real estate, insurance and the out of home advertising industry. The firm’s Link Media Holdings subsidiary owns an outdoor […]

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Daktronics Profitable in 4Q 2017

Digital billboard manufacturer Daktronics earned a profit of $0.9 million on revenue of $144 million in the fourth quarter of  fiscal 2017 (3 months ended April 29, 2017) versus a net loss of $2.9 million on revenue of $138 million during the fourth quarter of fiscal 2016  Here are highlights from the earnings release and conference call transcript.  The market treated the release as good news.  Daktronics was up 7% for the day. Revenue and Net Income totaled $586 million and […]

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Another iHeart Debt Offer Extension

iHeart Media announced yesterday an extension of the date of their private exchange offer from May 26th to June 5th.  Insider reported in April of the Companies decision to move the deadline date for their lenders and bondholders to consider its debt-exchange offer to May 26th.  Now with that date upon them and only 0.6% of the outstanding existing notes being tendered, the Company was forced to make another move.  The Company indicates it will provide time to continue discussions with note holder regarding […]

by John Weller· · Comments are Disabled · Finance

Billboard Condemnation. Fair Market Value for Eminent Domain Takings

By Paul Wright, ASA Have you ever had a sign taken by a government agency?  If it happens, don’t worry, it’s not the end of the world. First, keep in mind that the government has the power of Eminent Domain, which means that they can take private property for public use.  However, just like Uncle Ben told Peter Parker (Spiderman) “with great power, comes great responsibility.”   Over the last 40 years, we have seen Right of Way professionals (government agencies […]

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Landmark US outdoor purchases slowing.

Landmark Infrastructure’s domestic US outdoor assets purchases are slowing. Here are the highlights from Landmark’s first quarter 2017 financials and the earnings call transcript. Revenue increased 57% to $12.2 million during the first quarter of 2017,  due to the impact of acquisitions during the past 12 months. Cashflow increased 56% to $11.2 million during the first quarter of 2017. Landmark acquired 11 outdoor advertising leases and easements during the first quarter of 2017.  The firm had 531 outdoor leases and […]

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Lamar Revenue up, cashflow down in 1Q 2017

Lamar Announced first quarter results.   Here are the highlights from the financials and the earning call. Revenue increased $8 million (2.3%) to $346 million for the quarter.  Organic revenues grew 1.3%.  The rest of the increase was due to the impact of the Clear Channel Outdoor acquisitions last year.  Revenues are 79% local, 21% national.  Compare that to Outfront’s mix of 50% local, 50% national.  CEO Sean Reilly said on the conference call that Lamar’s national revenues actually increased […]

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Clear Channel Outdoor Revenue and Cashflow Down in 1Q 2017

Clear Channel Outdoor released 1Q 2017 financials yesterday.  Revenue and cashflow declined,  Here are links to the Seeking Alpha earnings call transcript and the first quarter investor powerpoint.  Insider’s analysis focuses on Clear Channel Outdoor Americas, which includes the company’s North American billboards. Americas Outdoor Revenue declined by $3 million (1%) to $279 million due to assets sales.  Organic revenues were up 0.2% when adjusted for divestitures.   Americas Outdoor Expenses increased $3 million (2%) to $197 million during the […]

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Outfront 1Q 2017: Live by National, Die By National

Outfront CEO Jeremy Male summarized first quarter 2017 performance with this quip:  “Everything in our business is going well with the exception of national billboard advertising.”  Outfront is more dependent on national advertising than Clear Channel or Lamar.  National advertising accounts for 50% of Outfront’s business so a drop in national advertising has a big impact.    Here are the highlights from the earnings call: Organic revenue declined $7 million (2.2%) to $328 million during the first quarter of 2017 […]

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