Bloomberg Reports Lamar Near Deal to Buy Billboards From Fairway
According to Bloomberg, ⇐(see the article here) Lamar is nearing a deal to buy part of the Fairway Outdoor company, speculation markets are NC, SC, Wisconsin and North Georgia.
Bloomberg reports the deal could value the assets at about $416.5 million. As OOH Today reported last week, (Fairway Outdoor Deal Said to be Made) based on our inside sources, Lamar is making or has made this deal with Fairway.
It appears the other markets are still being negotiated. As often the case, one company, in this case Lamar, makes the deal on all of all the #OOH assets and then ‘spins off’ the other markets to other interested parties they elect not to take or Justice prohibits. But we don’t know that. Nothing has been confirmed by any of the parties involved, Lamar, Adams, Fairway or GTCR (private equity Investors).
Note to Fairway ‘ground soldiers’:
Having personally been through this type of transition multiple times as buyer and seller, I know first hand it makes for tough times with the men, women and their families who work for Fairway, wondering about the future. The timing, being over the holiday’s, is even more burdensome. Unfortunately, such is business for year-end taxes. Our advice is to hang in there, only Chiefs get exited. (Chiefs who don’t carry account lists) Warriors and Hunters are kept for their productivity. Enjoy your time off for the Holidays!
