Lamar Advertising acquires assets of Cleveland Outdoor Advertising for cash

Core Insights - Lamar Advertising (LAMR) has acquired the assets of Cleveland Outdoor Advertising for cash, enhancing its portfolio in the Cleveland area [1] - The acquisition includes 31 high-profile bulletin faces and over 40 junior bulletin faces, indicating a significant expansion of Lamar's advertising capabilities [1] - Cleveland Outdoor Advertising, founded 47 years ago, has established a strong presence in the market, and the founders have expressed trust in Lamar to continue their legacy [1] Company Summary - The transaction strengthens Lamar's position in the outdoor advertising industry by adding premium locations in a key metropolitan area [1] - The founders of Cleveland Outdoor Advertising, Debra Abdalian-Thompson and Stephen Thompson, are recognized as pioneers in the out-of-home (OOH) advertising sector [1] - Ross Reilly, president of Lamar's outdoor division, emphasized the honor of building upon the foundation laid by the founders of COA [1]