Lamar Advertising Company's Strong Moat Ensures Long-Term Growth
Thu, Jan. 7, 1:03 PM
- After vaulting toward the close yesterday over a report that it was discussing selling nearly $1B in billboard assets, Clear Channel Outdoor Holdings (NYSE:CCO) has given it back and then some, down 8.3% today.
- The company says it's closed a sale of five "non-strategic" outdoor markets to Lamar Advertising (NASDAQ:LAMR), for $458.5M in a pair of transactions.
- One transaction covers Reno, Nev.; Des Moines, Iowa; and Seattle. Those markets generated $40.9M in net revenues (trailing 12 months). The other covers Cleveland and Memphis, Tenn.; those markets generated $35.6M in net revenues. The $458.5M deal price is a blended multiple of 12.5 times the five markets.
- The company didn't state a use for proceeds, though it's expected they could go toward the $20B debt load of parent iHeartMedia (OTCPK:IHRT -5.5%).
Jul. 7, 2015, 10:06 AM
- Lamar Advertising (LAMR -0.5%) says it's acquired Alliance Airport Advertising, adding a number of displays (traditional and experiential) across major airports in five cities: Las Vegas, Phoenix, Salt Lake City, Portland, Ore., and Burbank, Calif.
- The move means Lamar is serving ads at a dozen airports serving 125M passengers per year.
- Alliance founder Shauna Forsythe will lead a new division at Lamar called Lamar Alliance Airport Advertising.
Lamar Advertising Co. is the advertising company. It offers solutions for clients in the form of bulletins and posters. The company operates the business through one segment: Advertising. It bulletins are generally large, illuminated advertising structures that are located on major highways and... More
Industry: Marketing Services
Country: United States
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