Lamar Acquires NextMedia Outdoor
November has been a busy month in terms of M&A activity in the outdoor ad marketplace. Most recently, Lamar Advertising Co. has acquired NextMedia Outdoor, Inc. from NextMedia Group, for $145 million, NextMedia revealed on Wednesday.
The transaction bolsters Lamar’s outdoor ad offerings, while allowing NextMedia to focus on its core radio business, which
consists of 33 stations in eight markets across the U.S.
The sale of NextMedia’s outdoor assets follows the company’s bankruptcy and restructuring under the ownership of Strategic Value Partners and Angelo, Gordon & Co. Among other initiatives, with SVP Angelo Gordon in charge, NextMedia Outdoor acquired smaller outdoor advertising companies and rolled out a number of digital billboards.
Its sale eliminates NextMedia Group’s remaining debt.
Earlier this month, Van Wagner Communications, the largest privately held outdoor advertising company in the U.S., announced the acquisition of Fuel Outdoor Holdings, which owns wall mural advertising inventory in a number of cities nationwide, with major concentrations in New York, Dallas and Miami.
Fuel also has a 20-year municipal contract for street furniture advertising in Miami, installs and operates Metrolights panels, which consist of street-level
shelter-sized advertising panels on private property in major cities.
In September, Van Wagner acquired blimp advertising operator Lightship Group, which operates blimps with a unique internal lighting system, and American Blimp Corp., which makes the blimps for Lightship. In July, Lamar Advertising acquired American Outdoor Advertising, which owns 127 static and 30 digital billboards in and around Phoenix.