Lamar Acquires Clear Channel’s Outdoor Assets in Five US Markets

RMG Networks Revenue Jumps 22% In Second QuarterLamar Advertising Adds Cleveland, Des Moines, Memphis, Reno and Seattle/Tacoma to Outdoor Portfolio

BATON ROUGE, LALamar Advertising has acquired the assets of Clear Channel Outdoor Holdings in five U.S. markets. The markets were purchased for $458.5 million in cash and add more than 5,500 bulletin and poster faces, including 132 digital billboards, across five US markets to Lamar’s portfolio. Lamar (Nasdaq: LAMR), expects the acquisition to be accretive to Adjusted Funds From Operations per share in 2016.

“We are always thrilled to add high-quality, REIT-eligible assets in attractive markets to our portfolio,” said Lamar chief executive Sean Reilly. “Given Clear Channel’s goal of focusing on its core markets, this is a transaction that makes great sense for both of us. We look forward to bringing our outstanding customer service and dynamic digital-advertising capabilities to Cleveland, Seattle/Tacoma, Des Moines, Memphis and Reno.”

J.P. Morgan Securities LLC acted as sole financial advisor to Lamar on the transaction. Lamar financed the acquisition using $160 million of revolver borrowings and a $300 million term loan bridge facility provided by J.P. Morgan Chase Bank, N.A.

Kean Miller LLP and Locke Lord LLP acted as legal advisors to Lamar.

Free Trend Report: Why Location Is the New Currency of Marketing

Free Trend Report: Why Location Is the New Currency of MarketingFinding effective ways to deliver branded messages in today’s complex media environment is one of the biggest challenges facing advertisers. Traditional methods of advertising have become less effective as consumers spend less time in places where marketers have traditionally had an advantage in reaching them. In addition, consumer attention has fragmented across multiple channels as media options and device platforms increasingly diversify.

Active consumers spend money, and while they are going about their daily routine, they are also actively looking for information. According to Google, more than 50% of all mobile searches have local intent, and 17% of search happens while consumers are on the go.

Digital Out-of-Home (DOOH) advertising, also known as Digital Place-based (DPb) media, utilizes strategically placed, networked digital signage displays to reach on-the-go consumers while they are outside of their home with highly targeted messages. Location-based mobile and digital out-of-home media are part of a larger multiscreen ecosystem that effectively amplifies brand messages to create a deeper level of engagement with active consumers.

Why Location Is the New Currency of Marketing is aimed at CMOs, media buyers and strategists and provides insight into why marketers are increasingly shifting their advertising dollars to these rapidly emerging media platforms.

Highlights from Why Location Is the New Currency of Marketing include:

  • The Connected Consumer
  • Leveraging the Moment
  • Multiscreen Campaign Planning
  • Amplifying Reach With DOOH Media

Download your free copy here


Leave a reply

Your email address will not be published. Required fields are marked *