Earlier this month veteran out of home exec Robert Moore sold 200 billboard faces, including 7 digital displays to Adams Outdoor Advertising. Billboard Insider asked Riley Outdoor founder Robert Moore to talk about the sale. This will the first in a series of articles in which Moore reflects on his career.
Robert, how did the sale come about?
I’ve known Jason Anderson, Lou McDermott and Todd Hartman at Kalil and Co for a while. They approached me a couple years ago with an opportunity from a company that wanted to get in the billboard business…through that process I got to know those guys fairly well. We stayed in touch and then last spring before the OAAA meeting they asked me if they could present an informal one-sheet on my inventory to some folks at the OAAA convention. At this point I’m not for sale. I have no desire to sell. We’re just testing the market. They came back after the meeting very excited, with 3-4 players.
How did you select Adams?
They were very excited about Adams’ approach and Adams’ willingness to get the deal done. We went back and forth in late spring and through the summer about how to accomplish this…sometime in August we really got down to making a deal on the assets…Adams had two or three acquisitions which they were…working on the time so we didn’t really get down and start working on due diligence till late November , We closed the first day of of January of 2025. I’m very impressed by the Adams operation, very impressed by the team they’ve got there you know I think big things are on the horizon. Obviously, they haven’t shared anything with me as far as what what they’ve got…
What’s next for you?
I sit on the board board of a private equity company. I’ve got real estate investments. I’ve got an agreement with Adams to to work through a transition period…over the next 90 to 120 days I’ll be helping them and then after that I have a development agreement worked out with them as part of my non compete.
To receive a free morning newsletter with each day’s Billboard insider articles email info@billboardinsider.com with the word “Subscribe” in the title. Our newsletter is free and we don’t sell our subscriber list.
Paid Advertisement
