Lamar Advertising Company Announces Investment in Vistar Media

Rhea-AI Summary

Lamar Advertising Company (NASDAQ: LAMR) has invested $30 million in Vistar Media, a leader in programmatic technology for digital out-of-home advertising. This minority stake aims to bolster Vistar's balance sheet and support its R&D efforts while expanding into new markets. As part of the deal, Lamar secures a seat on Vistar's Board of Directors. Lamar's CEO, Sean Reilly, expressed confidence in Vistar's innovation and leadership, viewing this investment as a strategic move to enhance the out-of-home media landscape.

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• Investment of $30 million in Vistar Media to support R&D and market expansion.
• Acquisition of a Board seat at Vistar, facilitating strategic collaboration.

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• None.

BATON ROUGE, La., July 12, 2021 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq: LAMR), an owner and operator of outdoor advertising and logo sign displays, announced today that it has acquired a minority stake in Vistar Media, a leading global provider of programmatic technology for the digital out-of-home sector. Lamar’s investment of $30 million will help Vistar strengthen its balance sheet, expand its research and development and extend its reach into new markets. Under the terms of the transaction, Lamar will receive a seat on Vistar’s Board of Directors. Vistar will continue to operate as an independent technology partner to buyers and sellers across the global out-of-home ecosystem.

"By providing capital to a clear leader in the programmatic space, Lamar is investing in the future of our industry and the next evolution of our compelling media channel," Lamar chief executive officer Sean Reilly said. "As a longtime partner with Vistar, we've been impressed with their thoughtful leadership, technology and innovation, and we're hopeful that this investment will help Vistar pursue further growth to the benefit of media owners and advertisers across the out-of-home sector."

Vistar Media is the leading global provider of programmatic technology for out-of-home, bringing enterprise-grade software that was purpose-built for the unique requirements of digital signage. Vistar provides a global demand-side platform (DSP) for buyers to activate data-driven programmatic campaigns and a supply-side platform (SSP) to connect signage operators to digital revenue. Vistar also powers some of the world’s most advanced signage networks with device & content management software (Cortex) and ad serving technology. Vistar was founded in 2012 and is headquartered in New York, NY.

About Lamar Advertising Company
Founded in 1902, Lamar Advertising Company is one of the largest outdoor advertising companies in North America, with over 351,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day. In addition to its more traditional out-of-home inventory, Lamar is proud to offer its customers the largest network of digital billboards in the United States with over 3,700 displays.

Company Contact:

Buster Kantrow
Lamar Advertising Company
(225) 926-1000
bkantrow@lamar.com

FAQ

What recent investment did Lamar Advertising make in 2021?

Lamar Advertising invested $30 million in Vistar Media.

What will Lamar's investment in Vistar Media support?

The investment will support Vistar's balance sheet, research and development, and market expansion.

What position will Lamar hold at Vistar Media following the investment?

Lamar will receive a seat on Vistar's Board of Directors.

What is Vistar Media known for?

Vistar Media is a leading provider of programmatic technology for the digital out-of-home advertising sector.

How does Lamar Advertising's investment impact its business strategy?

The investment indicates Lamar's commitment to enhancing its capabilities in the programmatic advertising space.