by Benny Taubman, OOH TODAY Reporter
On Jan. 5, OOH Today reported that Lamar Outdoor kicked off the new year acquiring assets in Tulsa, Oklahoma from Tyler Outdoor Advertising —Tyler Outdoor Divests Tulsa Assets to Lamar. The transaction was exclusively brokered by Tuscon, Arizona-based media brokerage firm Kalil & Co., Inc.
Lou McDermott, the Vice President of Kalil & Co., Inc., joined OOH Today for an exclusive interview to shine some light on the high-profile deal.
Q: What assets did Lamar acquire in Tulsa from Tyler Outdoor?
A: “Lamar acquired several locations from Tyler in Tulsa. These were a mix of digital and static.”
Q: After the sale, how many assets does Tyler still possess?
A: “Tyler Outdoor Advertising has 1,500 billboards and streetside displays throughout the Oklahoma City Metro.”
Q: How did Tyler choose what assets to sell?
A: “As mentioned above, Tyler has an extremely robust presence in Oklahoma City. The assets they divested in Tulsa were outside of their main footprint.”
Q: Why did Tyler decide to sell in the first place?
A: “Tyler decided to sell these assets when it became obvious to them someone with more scale in the Tulsa market would be able to maximize the value of those locations.”
Q: Who came to who for this deal? Did Lamar ask to buy from Tyler or was it the other way around?
A: “We ran a very focused and quick process, aimed at minimizing any marketplace chatter about these assets being for sale.”
Q: How long has Kalil & Co., Inc. been working on this transaction?
A: “Not very long. With assets such as these, the potential purchasers make up their minds very quickly.”