Link Media parent company, Boston Omaha Corporation, announced results for the quarter and nine months ended September 30.  In their 10-Q their management described Link Media as an “owner of smaller billboard companies located in the Southeast United States and Wisconsin”. That distinction stood out to Insider as we read through their information, and saw that this owner of 3,000 billboard structures with 5,600 faces rebounded nicely through the last 3 months similar to most rural billboard companies.

We wanted to highlight the following information only related to Link Media operations (Boston Omaha also has investments in Surety insurance and broadband services):

Billboard revenues for both the 3rd quarter and the 9 months of 2020 are virtually flat as they compare to 2019. Link looks more like Lamar with a focus on more rural and medium sized to smaller markets.  As a result, their revenue performance has matched up very closely to most owner/operators in rural markets as they navigate through the Covid pandemic.

Additionally, Boston Omaha held nearly $120 million in cash and U.S. Treasury securities as of 9/30/2020. Boston Omaha stated in their 10-Q that “one of our principal business objectives is to continue to acquire additional billboard assets through acquisitions of existing billboard businesses in the United States when they can be made at what we believe to be attractive prices relative to other opportunities generally available to us”. Boston Omaha and Link Media are well positioned to continue with their growth objectives moving forward.

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