WASHINGTON (dpa-AFX) - Premier Outdoor Media has divested OOH assets to Lamar Advertising Company (LAMR). Financial terms of the deal were not disclosed. The all-cash acquisition adds nearly 200 billboard faces, including 45 digital units, across key markets in New Jersey, Delaware, Maryland, Pennsylvania and New York to Lamar's portfolio.
'This acquisition enhances our position in the greater Philadelphia and New York markets, including southern New Jersey, and is consistent with our strategy of adding high-quality, REIT-qualified assets to our portfolio,' said Sean Reilly, CEO of Lamar.
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