Billboard Insider has compiled our list of out of home transactions for the second half of 2022. If we’ve written about it, we have provided a link in the Buyer column.  You can also read about the first half of 2022 in our July article.

As always, we appreciate the assistance provided by the M&A firms serving our industry. They have been extremely cooperative in helping Insider compile this list while respecting the relationships they have with their clients and the non-disclosure agreements on many of the deals.

A couple of observations on the last 6 months.

Biggest Surprise – That in spite of rising interest rates and rising inflationary pressures, the number and amount of activity showed continued strength.  In fact the number of acquisitions in this list (37) matched the very robust first half of the year.  While we don’t have all details, it looks like a comparison of dollar value of total transactions would also be close to the same.

Most active purchaser – If you guessed Lamar, you win the prize.  They started slowly, but were very active in December, including the acquisition of the remaining Fairway Outdoor assets.

Most active seller – Clear Channel gets this because of their efforts to sell their European assets including the $92 million sale of their Swiss assets. We are expecting additional sales in 2023.

Most interesting trends – A number of sellers, focused on the sale of valuable, but more non-strategic assets. Examples of this would be the Tyler Outdoor and Burkett Media, among others.  Also, OUTFRONT was very active in 2022 as a buyer in Canada.

If you have additional thoughts or observations, let us know at info@billboardinsider.com.

If you see a transaction we missed, let us know at info@billboardinsider.com. We will do a followup later this week.

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