Stock market woes hurt US Out of home operators during the 4th quarter of 2018 although Outfront and Lamar outperformed a dismal market. 2018 was the worst year for the stock market since the 2008 financial crisis. On an annualized based the stock market was down 57% during the fourth […]
New York, December 21, 2018 — Moody’s Investors Service (Moody’s) said Lamar Advertising Company’s ratings are unchanged following the acquisition of billboards in five markets located in North Carolina, South Carolina, Georgia and Wisconsin from Fairway Outdoor Advertising for $418.5 million. Pro forma leverage is expected to increase to 4.0x […]
Here’s a summary of Sean Reilly’s comments from last Friday’s conference call announcing the $418.5 acquisition of 8,500 Fairway outdoor faces in North Carolina, South Carolina, Georgia, and Wisconsin. On how the transaction came together “We had looked at this property about 4 years ago and we were outbid by […]
News came out on Friday that Clear Channel Outdoor and iHeartMedia had come to an agreement to separate Clear Channel to an independent stand alone Company, Clear Channel Outdoor Holdings, Inc. Insider spent some time reading through the 8K (which is a fairly short read) and a significant portion of the […]
December 21, 2018 — Baton Rouge, LA – Lamar Advertising Company (Nasdaq: LAMR), a leading owner of outdoor advertising and logo sign displays, today announced that it has acquired Fairway Outdoor Advertising’s billboard operations in five U.S. markets from GTCR, LLC for a purchase price of $418.5 million. “We are […]
Bloomberg has confirmed that Lamar is nearing a deal to buy Fairway Outdoor Advertising Billboards in North and south Carolina, North Georgia and Wisconsin. Bloomberg reports a purchase price of $416.5 million, slightly less than the $425 million which Insider reported earlier today. Fairway Equity Investor GTCR gets liquidity on […]
Insider hears from reliable sources that Lamar is buying the Fairway assets in 6 markets including north Georgia,North Carolina,South Carolina and Wisconsin today. The purchase price is approximately $425 million. The remaining Fairway Markets, including Indiana, Texas and Tennessee, will be be sold on a piecemeal basis in the future. […]
Independently owned and operated Pacific Outdoor Advertising is pleased to announce the acquisition of Total Outdoor’s inventory in the Seattle market. Pacific Outdoor offers comprehensive out-of-home advertising coverage throughout the Portland Metro with over 1,000 advertising displays, including Bulletins, Posters, Digital Billboards and Wallscapes. With the Seattle acquisition, Pacific will […]
Insider asked Kalil and Co investment banker Max Drachman to recap the out of home transactions market. Drachman recently brokered the sale of Boston’s RSA Media. How was the M&A market in 2018? 2018 was a spectacular year for our firm. It looks like it will end up as the […]
The Fairway sale has been through multiple rounds of bidding. Expect an announcement soon. Scarcely a day goes by without Insider hearing some new rumor. Here’s the latest. The sale will occur in geographic clusters. Lamar will buy one or more of the pieces. Wouldn’t be surprised if this includes […]
