Lamar Advertising (LAMR) recently made an exciting announcement about acquiring the assets of Cleveland Outdoor Advertising for cash. This strategic move will see Lamar adding 31 high-profile bulletin faces and over 40 junior bulletin faces to its Cleveland portfolio. Cleveland Outdoor Advertising, founded 47 years ago by Debra Abdalian-Thompson and Stephen Thompson, started as a junior poster plant and eventually expanded to include numerous premium bulletin locations in the Cleveland metro area.
In a statement, Lamar expressed its gratitude for the trust placed in them by the founders of Cleveland Outdoor Advertising. Ross Reilly, president of Lamar’s outdoor division, acknowledged Debra Abdalian-Thompson’s role as a pioneer in the Out-of-Home (OOH) industry. He stated, “Debbie has been a pioneer in the OOH industry, and we are honored that she and Steve trust Lamar to build upon the strong foundation that they have established.”
This acquisition not only strengthens Lamar’s presence in the Cleveland market but also signifies the company’s commitment to expanding its reach and offering a wider range of advertising opportunities to its clients. By adding these premium billboard locations to its portfolio, Lamar is poised to provide even more impactful advertising solutions to businesses looking to reach their target audience in the Cleveland area.
This news was first reported on TheFly, a trusted source for real-time, market-moving financial news. For more updates on Lamar Advertising and other top-performing stocks, readers are encouraged to visit TipRanks for the latest insights and analysis.
As Lamar continues to grow and evolve in the outdoor advertising space, this acquisition marks a significant milestone in the company’s journey. With a focus on innovation and customer service, Lamar is well-positioned to continue leading the way in the OOH industry.
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