Lamar Will Acquire Obie Media

Outdoor ad company Lamar Advertising will acquire Obie Media Corporation for $43 million. The acquisition should be finalized in early 2005.

In business since 1959, Obie sells, designs, produces, and installs out-of-home advertising displays throughout the US and Canada, including transit posters, billboards, wallscapes, transit shelters, bus benches, and more. The company holds 38 exclusive agreements with transit districts in markets such as Dallas, St. Louis, Indianapolis, Sacramento and Vancouver; it operates transit-advertising displays on more than 7000 transit vehicles. In addition, the company operates more than 1100 billboards, primarily located in Washington, Oregon, California, Montana, Wyoming, Utah, South Dakota, and Idaho.

In August of this year, Obie announced that it had increased its production capabilities because of a growing demand for specialty graphics. The company added a Vutek UltraVu 2360 printer to its roster and created a new division focused on non-transit digital graphics.

“Obie has assembled an outstanding collection of assets, which are managed and operated by a highly skilled and professional group of individuals,” says Kevin P. Reilly Jr., Lamar's chairman, president, and CEO. “We are very pleased with this addition to our existing core.” (Lamar Advertising: www.lamar.com; Obie Media: www.obie.com)