Lamar to Buy Outdoor Firm in $43 Mil. Deal

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DALLAS Lamar Advertising is continuing its expansion by acquiring transit ad specialist Obie Media Corp. in a deal valued at $43 million.

Lamar, based in Baton Rouge, La., is the nation’s No. 3 outdoor advertising company with 25 percent of the market behind Viacom (32 percent) and Clear Channel (28 percent), said Keith Istre, chief financial officer.

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