Lamar Advertising Acquires Premier Outdoor Media

Core Insights - Premier Outdoor Media has divested its out-of-home advertising assets to Lamar Advertising Company, although financial terms were not disclosed [1] - Premier, founded in 2018, significantly increased its digital display count by over 500%, establishing itself as the largest independent digital OOH network in the Philadelphia DMA [2] - The acquisition adds nearly 200 billboard faces, including 45 digital units, to Lamar's portfolio across key markets in New Jersey, Delaware, Maryland, Pennsylvania, and New York [3] Company Overview - Premier Outdoor Media was established through Caruth Capital Partners' acquisition of Jersey Premier Outdoor Media, LLC, with leadership from Dominick Vastino and Sean Corbett [2] - Lamar Advertising Company, founded in 1902, is one of the largest outdoor advertising companies in North America, operating over 360,000 displays across the U.S. and Canada [5] Strategic Implications - The acquisition enhances Lamar's position in the greater Philadelphia and New York markets and aligns with its strategy of adding high-quality, REIT-qualified assets [3] - Premier's leadership expressed confidence in Lamar's ability to continue delivering exceptional service to clients following the acquisition [3]