Link Media Outdoor, the wholly owned subsidiary of Boston Omaha, grew rapidly in the first quarter of 2019 due to acquisitions which occurred in the latter half of 2018.  Here’s a snapshot of the Link Media Outdoor performance for the first quarter of 2018.

• Net billboard revenues increased 337% to $6.8 million during the first quarter of fiscal 2019 due to the acquisition of Waitt Outdoor, Key Outdoor and Tammy Lynn Outdoor in the latter half of 2018.
• Cost of billboard revenue increased 275% to  $2.7 million during the first quarter of 2019 due to increased land expense and commissions relating to the acquisitions.
• Capital expenditures totaled $845,583 during the first quarter of 2019 versus $577,333 during the fist quarter of 2018 as there were no major acquisitions.

Insider’s take:  Expect more acquisitions.  Link’s parent Boston Omaha has $97 million in cash and Treasury securities.  The company’s first quarter 2019 10k says this:

“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.”

Insider wouldn’t be surprised if Link is in the hunt for the remaining Fairway assets in Sherman Texas.

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