LCO Outdoor Advertising Divests Oklahoma City Division to Link Media Outdoor
Transaction sees Link enter Oklahoma’s largest market
June 23, 2022
Oklahoma City, OK – LCO Outdoor Advertising (“LCO”) announced today the divestiture of static and digital Outdoor Advertising Assets in Oklahoma City to Link Media Outdoor (“Link”).
Link Media Outdoor is a wholly owned subsidiary of Boston Omaha Corporation (NYSE: BOC) – www.bostonomaha.com. Link operates over 7,400 billboard advertising faces in Georgia, Alabama, Florida, Wisconsin, West Virginia, Virginia, Illinois, Iowa, Missouri, Nebraska, Kansas, Nevada, Oklahoma and Arkansas. While BOC does not anticipate this minor transaction to be material to Link’s overall billboard business, the additional inventory does complement Link’s recent activity in the state. Drachman M&A Co. represented LCO Outdoor Advertising in the transaction. Terms of the deal were not disclosed.
This acquisition adds to Link’s existing footprint in Oklahoma and is consistent with their strategy of targeting strong assets in growth markets. Scott LaFoy, President and CEO of Link said “Link is excited to enter the Oklahoma City market as we expand our service into the capital and largest city in the state. This will greatly enhance Link’s audience and extend coverage for our advertisers and others interested in that area.”
While this transaction represents a divestiture for LCO, they look forward to continuing to operate their assets in Dallas-Fort Worth and Phoenix. Rhett Cooney, President of LCO Outdoor said “It was great working with Scott and Link on this transaction. These assets give them an excellent foothold in Oklahoma’s capital. We enjoyed operating in the state and are confident Link will continue the high level of service our clients and property owners are accustomed to.”
Drachman M&A Co. CEO Max Drachman, said the deal was beneficial for both parties involved. “Prior to the transaction, Link’s footprint surrounded Oklahoma City. Adding locations within the city will benefit their existing assets through more exposure in Oklahoma’s largest advertising market. Also, we are happy to see LCO’s time in Oklahoma come to a successful conclusion. They will now be able to focus on two markets a bit closer to home and leverage their expertise in a more focused capacity.”
About Drachman M&A Co.
Drachman M&A Co. is a boutique firm focused on Mergers and Acquisitions of Outdoor Advertising and Tower assets. We provide guidance and strategic advice from a position of total transparency and complete alignment with the goals of our clients. Drachman M&A Co. is built on a foundation of trust, confidentiality, and integrity coupled with a reputation for persistence and delivering results for clients.
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