Lamar Outdoor Cancelling Billboard Leases Across US Due to Economic Downturn
This article is a few months old, but it illustrates the impact the economic downturn has on billboard companies.
- Lamar Outdoor is lowering capital expenditures related to new billboard construction from $220 million to $30 million
- Lamar derives 8 percent of its business from auto advertising and 6 percent from real estate ads; both industries have been hard hit.
- Lamar will delay investment in new digital billboards and cancel leases on land where billboards have not yet been erected.
September 21st, 2009 at 4:28 pm
Please save this for when the economy picks up — when you might want a great billboard site with fantastic north-south visibility on I-5 seven miles south of the Oregon border (electric is within 300′ of proposed site).