Finance

Boston Omaha IPO Raises $97 million.

Insider reported in June that Link Media‘s parent company Boston Omaha was planning to raise $71.5 million via an IPO. A press release on Business Wire announced that Cowen and Company, LLC, as the representative of the underwriters of the previously announced public offering of 6,538,462 shares of Class A common stock, exercised their option to purchase an additional 926,880 shares to cover over-allotments, bringing the total gross proceeds from the offering to $97,049,446, before deducting the underwriting discount and offering […]

by John Weller· · 0 comments · Finance

iHeart Lenders Make Counter Proposal On Debt

Radio Ink reports on Tuesday that a counteroffer to iHeartCommunications Debt restructure proposal was made by Arnold & Porter Kaye Scholer (APKS), an advisor to Symphony Asset Management, which holds about $280 million in iHeart term loans. The counterproposal made to iHeartMedia is for $500 million in newly issued debt secured directly by equity in the company and 49 percent equity stakes in both iHeartMedia’s radio stations and iHeart’s billboard company, Clear Channel Communications, if the two divisions are spun […]

by John Weller· · 0 comments · Finance

Link Media Buys Digital Sign in Atlanta

Link Media closed last week on the purchase of a back to back digital billboard on Jimmy Carter Blvd in Atlanta.  View Outdoor was the seller.  Link CEO James McLaughlin says the location helps fill out Link’s Atlanta digital footprint. Link has been busy in Atlanta.  The firm purchased of Atlanta-based Vision Outdoor and Corey Outdoor as well as 37 Clear Channel Outdoor billboard structures earlier this year. Link Media is a subsidiary of the publicly-traded Boston Omaha company. Insider’s […]

by billboardinsider· · 0 comments · Finance

US Out of Home Companies More Risky Than Stock Market

The 3 public US out of home companies are more risky that than that US stock market based on their betas. The US Stock market beta:     1.00 Lamar beta:                                1.13 Outfront beta:                            1.14 Clear Channel Outdoor beta   1.52 Source: google finance Investment analysts use beta to compute the volatility […]

by billboardinsider· · 0 comments · Finance

Gabe Oliverio on Asset Swaps

Insider caught up with Gabe Oliverio, Managing Director at outdoor investment banking firm Johnsen, Fretty & Co., about a swap transaction announced last week involving Independent Outdoor Network (transaction press release here). You can contact Gabe at goliverio@jfco.com. Tell us about the transaction and how you were involved. Interestingly, the transaction involved a swap of big market assets for smaller market assets, which you typically don’t see. JFC initiated this transaction and advised Independent on its side of the deal.  […]

by John Weller· · 0 comments · Finance

Out of home values stable in 2Q 2017

Public out of home company valuations were stable during the second quarter of 2017.  The following table shows that the four public out of home companies (Clear Channel Outdoor, Lamar, OUTFRONT and JCDecaux) had an enterprise value of 13.2 times cashflow at June 2017, down slightly from 13.4 times cashflow for March 2017.  Lamar leads the group with a value of 15.2 times cashflow.  Clear Channel lags with a value of 10.7 times cashflow. Private market out of home valuations […]

by billboardinsider· · 0 comments · Finance

US Out of home stocks lag during second quarter.

US Out of home advertising stocks lagged the Standard and Poors 500 during the second quarter of 2017.  A stock index consisting of Lamar, Outfront and Clear Channel Outdoor declined by 4.2% during the second quarter of 2017 while the Standard and Poors 500 was up 2.7% for the quarter. US Out of Home Stocks (Lamar, Outfront and Clear Channel Outdoor) versus S&P 500 for Quarter Ended June 30, 2017 Lamar was flat while Outfront and Clear Channel stock underperformed […]

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Patient Point Receives $140 million in Growth Financing

Insider’s take:   Here’s the press release for a Peter J Solomon-advised capital raise by PatientPoint.  This is the second out of home investment for Searchlight Capital, which has also invested in Ocean Outdoor U.K., one of Britain’s largest digital billboard companies.  The value of this business will depend heavily on the leases which PatientPoint writes with doctor’s offices.  If they are long term at a reasonable rent the business will have value.  Many digital sign networks and point of […]

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JCDecaux and América Móvil merge their OOH businesses in Mexico

JCDecaux SA, the number one outdoor advertising company worldwide and América Móvil, the leading wireless provider in Latin America and the third largest in the world in terms of equity subscribers, have announced the entering into a joint venture for the out-of-home (“OOH”) advertising businesses in Mexico by merging each of Corporación de Medios Integrales, S.A. de C.V., a wholly-owned subsidiary of AMX (“CMI”) and Eumex, S.A. de C.V., a controlled entity of JCDecaux SA (“Eumex”) into JCD Out Of […]

by John Weller· · Comments are Disabled · 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· · Comments are Disabled · Finance