Lamar Advertising Acquires Assets of Cleveland Outdoor Advertising
Rhea-AI Summary
Lamar Advertising (Nasdaq: LAMR) acquired the assets of Cleveland Outdoor Advertising for cash, adding 31 high-profile bulletin faces and more than 40 junior bulletin faces to its Cleveland portfolio. The acquired business was founded 47 years ago by Debra Abdalian-Thompson and Stephen Thompson. Company leadership and the sellers provided statements about legacy and continuity, and Lamar said it will build on COA's established presence in the Cleveland metro area.
Positive
- Adds 31 high-profile bulletin faces to Cleveland portfolio
- Adds > 40 junior bulletin faces expanding local inventory
- Transaction completed for cash, simplifying financing considerations
Negative
- None.
News Market Reaction – LAMR
On the day this news was published, LAMR declined 0.41%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
LAMR is up 0.24% while key REIT peers like GLPI (-0.83%), SBAC (-2.79%), WY (-0.23%), IRM (-0.65%) and DLR (-0.47%) are down, pointing to company-specific trading.
Previous Acquisition Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jul 07 | Asset acquisition | Positive | +1.2% | UPREIT acquisition of Verde Outdoor adding 1,500+ faces and 80 digital displays. |
| May 05 | Asset acquisition | Positive | +0.2% | All-cash purchase of Premier Outdoor Media adding nearly 200 faces and 45 digital units. |
Past acquisition announcements have been followed by modest positive moves, with an average move of about 0.73% and both prior deals producing gains.
Over the last year, Lamar has repeatedly expanded via acquisitions, including the Verde Outdoor UPREIT deal adding over 1,500 faces and 80 digital displays, and the Premier Outdoor Media acquisition adding nearly 200 faces and 45 digital units. Today’s Cleveland Outdoor Advertising asset purchase continues this bolt-on growth pattern, reinforcing Lamar’s strategy of broadening its billboard footprint across key regions through targeted transactions.
Historical Comparison
In the past year, Lamar issued 2 acquisition announcements with an average move of 0.73%. Today’s 0.24% gain on the Cleveland Outdoor deal sits well within that historical range.
Recent acquisitions show steady footprint expansion, from regional bolt-ons to the innovative Verde UPREIT transaction, with today’s Cleveland Outdoor assets deepening the Cleveland market presence.
Market Pulse Summary
This announcement details an all-cash acquisition adding 31 high-profile and over 40 junior bulletin faces to Lamar’s Cleveland portfolio, extending a consistent roll-up strategy seen in prior Verde and Premier transactions. Investors may track how these new locations contribute to occupancy and revenue, and compare future disclosures to earlier acquisitions that historically produced modest single-day moves of about 0.73% on average.
AI-generated analysis. Not financial advice.
BATON ROUGE, La., Feb. 02, 2026 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq: LAMR) (“Lamar” or the “Company”), a leading owner and operator of outdoor advertising assets, announced today that it had acquired the assets of Cleveland Outdoor Advertising for cash.
The transaction adds 31 high-profile bulletin faces and more than 40 junior bulletin faces to Lamar's Cleveland portfolio.
COA was founded 47 years ago by Debra Abdalian-Thompson and Stephen Thompson as a junior poster plant and grew to include numerous premium bulletin locations in the Cleveland metro area.
"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," said Ross Reilly, president of Lamar's outdoor division.
Abdalian-Thompson, who served as president of COA, is a long-time director of the Out of Home Advertising Association of America (the “OAAA”) and of the Outdoor Advertising Association of Ohio. She is a 2017 inductee into the OAAA Hall of Fame.
“We are deeply grateful to everyone who believed in us, worked alongside us, and contributed to our success. This industry has given us so much, and we will always appreciate the opportunities, challenges and connections it brought into our lives,” Abdalian-Thompson said. “I have long admired Lamar and the Reilly family, and I can’t think of a better company to carry COA’s legacy forward.”
| Company Contact: | Buster Kantrow (225) 926-1000 bkantrow@lamar.com |
FAQ
What assets did Lamar (LAMR) acquire from Cleveland Outdoor Advertising on Feb 2, 2026?
How will the COA acquisition affect Lamar's Cleveland market presence (LAMR)?
Was the Cleveland Outdoor Advertising deal a cash transaction for Lamar (LAMR)?
Who founded Cleveland Outdoor Advertising and what is their role after the sale to Lamar (LAMR)?
Does the Lamar (LAMR) announcement include financial terms or expected revenue impact from the COA acquisition?
