Last week Standard Outdoor, a subsidiary of Standard Diversified,  purchased the remaining Fairway Outdoor assets.  Looks to Insider like Standard Outdoor itself is for sale. This paragraph is tucked into a November 18, 2019 Standard Diversified press release announcing a merger and reorganization. Emphasis ours.

Prior to the consummation of the proposed merger, the Company plans to divest all assets and liabilities of the Company other than its interest in Turning Point. This includes the disposition of the Company’s interest in Maidstone Insurance Company (“Maidstone”), through a disposition to the New York State Department of Financial Services (“NYSDFS”). The Company also intends to dispose of its out-of-home advertising business, conducted through its subsidiary Standard Outdoor LLC, in a transaction not yet finalized.

The transaction may be a spinoff of the out of home company assets to a new independent entity which existing Standard Diversified shareholders own.  Insider wonders if Lamar is looking.  It has the financial resources but took a pass on the Fairway assets which Standard just bought.  Insider has heard of several private equity firms who have been unable to enter out of home because there are few large targets.  This might be their chance.

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