Lamar CEO Sean Reilly introduced Lamar’s 4Q 23 earnings release with a familiar script: “Revenue growth accelerated as we moved through the fourth quarter, primarily because of strength in local sales. In addition, our team continued to do an outstanding job controlling expenses…” Here are the results from Lamar’s 4Q […]
Revenues up slightly, cashflow down slightly was how you could summarize the OUTFRONT 4Q 2023 press release, 4Q 2023 earnings presentation and conference call. Revenues increased by 1.3% in the fourth quarter of 2023. Billboard revenue increased 2.6%. Transit revenue declined 4%. Local revenue grew 4.5%. National revenue declined 3.1%. […]
Yesterday Craig Berry of Stark Capital discussed private equity terms and conditions. Today he shares 8 tips for independent operators to consider when negotiating and structuring equity transactions. Tips on Negotiating and Structuring Private Equity Investments: #1 Secure a commitment first before you draw the capital. If the objective is […]
Previous installments of Billboard Insider’s private equity and out of home series have discussed why to raise private equity, what to look for in a partner and how to value your shares. Today Craig Berry of Stark Capital Solutions discusses private equity terms and conditions. Stark Capital has participated in […]
How do you value your out of home company when you bring in an outside investor? The answer depends on whether you are simply selling an existing share of the ownership to a third party or if you are raising new money to grow the company. Selling an existing share […]
Yesterday Billboard Insider presented four reasons to consider adding an outside equity partner. Today we talk about three traits to look for in a private equity partner: industry expertise; candor; and rapport. Industry Expertise Time is your most precious resource. You don’t want to have to spend time educating a […]
There’s lots of private equity interest in out of home to judge from the calls Billboard Insider gets. This is the first column in a series on private equity and out of home, based on our experiences raising equity for our own companies and as a private equity investor in […]
Stark Capital Solutions, an industry-leading capital provider and M&A advisory firm, is proud to announce the celebration of its 20th year in business! Founded by Chris Stark in 2003, Stark Capital has focused predominately on working inside the Billboard Industry with all sizes of independent operators. To highlight some of […]
An out of home exec needs to keep track of inflation for three reasons. Inflation tells you how fast to increase ad rates to avoid having your margins squeezed. Inflation is currently 3.4%. If you are not increasing your ad rates 3.4%/year your expenses will increase faster than your revenues […]
Public out of home companies beat the market during the fourth quarter of 2023. OUTFRONT was up 38% on news that transit ridership is creeping up. Lamar was up 27%. Clear Channel Outdoor was up 15% with a sharp improvement after the company reaffirmed fourth quarter revenue guidance (November 8) […]
