Reagan Details on Fairway Buy —It’s Official
Reagan Set to be #4 Player in OOH
Reagan Outdoor Moves on Fairway’s
Chattanooga, Indianapolis and Rochester
Reagan Outdoor Advertising, officially announced Wednesday, a definitive agreement to buy 5,300 Fairway faces in three markets, Chattanooga(DMA #83), Indianapolis (DMA #28) and Rochester (DMA #153).
The addition of the Fairway inventory will nearly double Reagan’s total to 9,000 and place it firmly in the number four spot of traditional OOH companies. Reagan’s other markets are in Salt Lake City (#30), Las Vegas (#39) and Austin, TX (#40).
“I’m sitting here at age 74 wondering if this is the greatest deal I have ever done or the dumbest deal,”
“Over the course of our 50-year history, we have established a track record of unlocking tremendous value from businesses that we acquire,” said Bill Reagan, founder, chairman and CEO. “We see significant potential across Indianapolis, Chattanooga and Rochester, and intend to invest in the people and assets in these markets accordingly. By leveraging our out-of-home expertise and strengthening client relationships, we plan to accelerate Reagan’s growth trajectory with this acquisition. We expect to integrate these assets quickly and will continue to explore opportunities to broaden our platform in the future.
“I’m sitting here at age 74 wondering if this is the greatest deal I have ever done or the dumbest deal,” he said. “I’ve seen the tremendous erosion in other media due to internet advertising, but we have not been hit as much by that trend and now we will have a business that has developed a parallel product to sell with our product that provides internet tie in. I feel pretty good about our future.”
The buy, financed with a debt restructuring and cash on hand, is expected to close in the next 60 days. Terms of the deal, i.e. How much? was not disclosed.
No further word on the status of the remaining Fairway markets. As mentioned in previous posts, we have to believe Link Media Outdoor(who has declined to comment) is in the hunt and we are told another company is plying the Southeast Division market.
About Reagan Outdoor Advertising
Reagan Outdoor Advertising has been a leader in the outdoor advertising industry for over 50 years.
Founded by current Chairman and CEO Bill Reagan in 1965, the Company operates a network of nearly 4,000 iconic and digital advertising displays across Utah, Nevada and Texas. Dewey Reagan serves as Western Division President, Billy Reagan serves as Southern Division President, and Frances Reagan serves as President of Sales. The Company is headquartered in Salt Lake City, Utah.
Reagan Outdoor Advertising News Release ⇒ Reagan Fairway press release
Below is a description of the Fairway Markets with maps.
Chattanooga Division — REAGAN OUTDOOR
Chattanooga, TN is the hub of a thriving region because it is located at the crossroads of the three states: Alabama, Georgia and Tennessee. Download a PDF map of this market.
Indiana Market — REAGAN OUTDOOR
Fairway meets the promotional needs of businesses by delivering their messages to Indiana’s widely spread out audience. Our inventory is distributed throughout forty-one counties reaching consumers inside and outside of the Indianapolis metropolitan area, covering key highways and thoroughfares in various nearby cities and towns. Download a PDF Map of this market.
North Central Division — REAGAN OUTDOOR
The North Central division is located in Rochester, MN, 80 miles south of the Minneapolis-St. Paul area and 63 miles west of the Wisconsin border. Minnesota is a state with above average growth in economy, one of the lowest unemployment rates in the nation and a job growth that is 33% faster than the rest of the US. Download a PDF map of this market.
The Mid-Atlantic division is a dynamic, vibrant division including Kentucky, West Virginia and Ohio.
Download a PDF map of this market.
The Southeast division is located in Valdosta, Georgia. Situated in this central location, Southeast offers coverage in the states of South Carolina, Georgia, Florida and Alabama. All markets provide great locations with high visibility on local roads and major highways and interstates. Download a PDF Map of this market.
The Southwest division of Fairway represents coverage in four states — from the heartland states of Arkansas and Oklahoma to the Sunbelt state of Texas to the southern state of Louisiana. Our coverage specializes in rural bulletin inventory targeting both small town America and the suburbs of major metropolitan cities. In addition, we offer mass coverage in the north Texas markets of Wichita Falls, Sherman/Denison and Texarkana. Download a PDF Map of this market.