Lamar Advertising Buys NextMedia Outdoor

By Luisa Beltran — 3 years ago

NextMedia Group said late Tuesday that it has sold NextMedia Outdoor, its outdoor advertising unit, to Lamar Advertising Co. for $145 million. Englewood, Colo.-based NextMedia, which is backed by Strategic Value Partners and Angelo, Gordon & Co., operates 33 stations across eight markets in the U.S. With the sale of Outdoor, NextMedia says it will focus on the radio broadcasting business.