GlobeNewswire Inc | Jul 12, 2021 09:54AM EDT

July 12, 2021

BATON ROUGE, La., July 12, 2021 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq: LAMR), an owner and operator of outdoor advertising and logo sign displays, announced today that it has acquired a minority stake in Vistar Media, a leading global provider of programmatic technology for the digital out-of-home sector. Lamars investment of $30 million will help Vistar strengthen its balance sheet, expand its research and development and extend its reach into new markets. Under the terms of the transaction, Lamar will receive a seat on Vistars Board of Directors. Vistar will continue to operate as an independent technology partner to buyers and sellers across the global out-of-home ecosystem.

"By providing capital to a clear leader in the programmatic space, Lamar is investing in the future of our industry and the next evolution of our compelling media channel," Lamar chief executive officer SeanReillysaid. "As a longtime partner with Vistar, we've been impressed with their thoughtful leadership, technology and innovation, and we're hopeful that thisinvestment will help Vistar pursue further growth to the benefit of media owners and advertisers across the out-of-home sector."

Vistar Media is the leading global provider of programmatic technology for out-of-home, bringing enterprise-grade software that was purpose-built for the unique requirements of digital signage. Vistar provides a global demand-side platform (DSP) for buyers to activate data-driven programmatic campaigns and a supply-side platform (SSP) to connect signage operators to digital revenue. Vistar also powers some of the worlds most advanced signage networks with device & content management software (Cortex) and ad serving technology. Vistar was founded in 2012 and is headquartered in New York, NY.

About Lamar Advertising CompanyFounded in 1902, Lamar Advertising Company is one of the largest outdoor advertising companies in North America, with over 351,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day. In addition to its more traditional out-of-home inventory, Lamar is proud to offer its customers the largest network of digital billboards in the United States with over 3,700 displays.

Company Contact:

Buster KantrowLamar Advertising Company(225) 926-1000bkantrow@lamar.com