Dusty’s Outdoor Media, LLC of Effingham, Illinois announced the acquisition of BKP Displays of Energy, Illinois. BKP had 24 faces. The purchase represents the 6th acquisition for Dusty’s since inception. With more than 450 billboard faces across 4 states (Illinois, Kentucky, Tennessee and Indiana), Dusty’s is one of the largest billboard […]
Here’s what Insider hears about the sale of the remaining Fairway assets. Reagan Outdoor is leading bidder for Fairway Tennessee, Indianapolis and Minnesota. Link Media Outdoor is in the lead for the Fairway Texas assets. Each of the pieces of the transaction is probably big enough that […]
BATON ROUGE, La., Jan. 23, 2019 – Lamar Advertising Company (LAMR) announced today that it is seeking to raise approximately $250 million through an institutional private placement of additional 5 3/4% Senior Notes due 2026 (the “Notes”) by its wholly owned subsidiary, Lamar Media Corp (“Lamar Media”). The Notes are being […]
January 9, 2019 – Baton Rouge, LA – Lamar Advertising Company (Nasdaq: LAMR), a leading owner of outdoor advertising and logo sign displays, today announced that Keith A. Istre, Chief Financial Officer and Treasurer, has informed Lamar of his intent to retire from the company effective December 31, 2019, after more than […]
Insider noticed Lamar bought stock when it purchased certain Fairway Outdoor assets in December. Sellers like to sell stock rather than assets because they get better tax treatment and the transaction is easier. Buying stock is OK for a big public out of home company but Insider recommends against small out of […]
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 […]
