BATON ROUGE, La., — Lamar Advertising Company (Nasdaq: LAMR) (“Lamar” or the “Company”), a leading owner and operator of outdoor advertising assets, announced today that it had acquired the assets of Cleveland Outdoor Advertising for cash.
The transaction adds 31 high-profile bulletin faces and more than 40 junior bulletin faces to Lamar’s Cleveland portfolio.
COA was founded 47 years ago by Debra Abdalian-Thompson and Stephen Thompson as a junior poster plant and has since grown to include numerous premium bulletin locations in the Cleveland metro area.
Ross Reilly, Lamar Outdoor Division President
“Debbie has been a pioneer in the OOH industry, and we are honored that she and Steve trust Lamar to build upon the strong foundation that they have established,” said Ross Reilly, president of Lamar’s outdoor division.
Abdalian-Thompson, who served as president of COA, is a long-time director of the Out of Home Advertising Association of America (the “OAAA”) and of the Outdoor Advertising Association of Ohio. She is a 2017 inductee into the OAAA Hall of Fame.
“We are deeply grateful to everyone who believed in us, worked alongside us, and contributed to our success. This industry has given us so much, and we will always appreciate the opportunities, challenges and connections it brought into our lives,” Abdalian-Thompson said. “I have long admired Lamar and the Reilly family, and I can’t think of a better company to carry COA’s legacy forward.”
“I have long admired Lamar and the Reilly family, and I can’t think of a better company to carry COA’s legacy forward.”
About Lamar Advertising Company
Founded in 1902, Lamar Advertising Company is one of the largest outdoor advertising companies in North America, with over 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day. In addition to its more traditional out-of-home inventory, Lamar is proud to offer its customers the largest network of digital billboards in the United States, with approximately 5,000 displays.
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