Lamar had a strong second quarter. CEO Sean Reilly summarized results: “Q2 was a good all around quarter for Lamar. Everything clicked, every business unit, billboards, transit, airports, and logos all lines of business exceeded plan on the top and bottom.” Here are the highlights from the earnings call and […]
Outfront announced second quarter earnings yesterday. Here are the results from the earnings release and conference call transcript. CEO Jeremy Male summarized the quarter: “Local advertising growth was solid. National advertising, which have been declining, reached breakeven. Digital growth remained strong. And importantly, both digital and static yields were up. […]
Link Media Outdoor (“Link”), a subsidiary of Boston Omaha Corporation (BOMN), has completed the acquisition of Tammy Lynn Outdoor, LLC (“Tammy Lynn”), based in Bluefield, West Virginia. For over 25 years, Tammy Lynn has been owned and operated by Bud and Tammy Acken and grew to become West Virginia’s 5th largest […]
Clear Channel Outdoor revenues and cashflow grew for the second quarter of 2018. Here are links to the second quarter earnings release and conference call powerpoint. Americas revenue (North America) declined 0.1% to $300 million. Americas revenue grew 2.1%, however, when adjusted for divestitures. Growth resulted from higher digital and […]
Kegerreis Outdoor Advertising has acquired 108 billboards in Winchester VA, Martinsburg WV and Charlotte, NC from Nations Media. Terms of the transaction were not announced. With the acquisition Kegerreis has more than 2,500 displays in 7 states. Kegerreis has been doing acquisitions. In May 2018 Kegerreis bought 57 billboards in West […]
Last week the private equity firm McWhorter Capital Partners announced it was partnering with Bartow Street Capital to raise $150 million for the continued expansion of Horton Outdoor. The fundraising is anticipated to take 12-18 months. Insider talked with McWhorter about the campaign. Josh, you’re seeking to raise the $150 […]
Cartersville, GA (July 16, 2018) – McWhorter Capital Partners, a private equity and real estate investment firm, is pleased to announce that it is partnering with Bartow Street Capital, a subsidiary of Greenfield Advisors, to raise $150 million for the continued expansion of Horton Outdoor Advertising. Horton Outdoor is an outdoor advertising company that specializes […]
Reuters reports that Netflix is paying $150 million for 35 Regency billboards along the sunset strip in Los Angeles. The transaction is expected to close later this month. PJ Solomon is advising Netflix and Moelis is advising Regency. The deal has been percolating since April when Netflix bid $300 million […]
Lamar and OUTFRONT outperformed and Clear Channel underperformed the stock market for the 3 months ended June 2018. Take a look at this chart. Lamar and Outfront were up 7.4% and 4.3%, respectively for the three months ended June 2018 while the S&P 500 was up only 2.9% for the […]
Standard & Poors has cut their debt rating on Clear Channel Outdoor Holdings to CCC+ from B- amid ongoing cash flow issues and debt being more at risk before their parent company iHeartMedia comes out of bankruptcy. Refinancing risks are high around $2.2B in senior subordinated notes due in March […]
