Lamar Advertising acquires assets of Cleveland Outdoor Advertising for cash

Lamar Advertising (LAMR) announced 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,” the company 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,” said Ross Reilly, president of Lamar’s outdoor division.