Local Media Outdoor, a division of Morris Multimedia Inc. of Savannah, announced Sept. 10 the acquisition of approximately 390 billboard faces in eastern North Carolina which had been part of the Interstate Outdoor portfolio. The acquisition includes both static and digital billboards.
LMO is a division of Morris Multimedia. Some of the North Carolina acquisitions are in the Wilmington, N.C., area, where Morris Multimedia also owns television station WWAY, an ABC, CBS and CW affiliate.
Interstate Outdoor will retain a portion of the North Carolina billboards.
“The assets we are purchasing have a solid history with clients, municipalities and counties within the area they serve. We are excited about growing Local Media Outdoor by adding these assets to our current inventory in the Southeastern states,” said Terry Harkins, general manager of LMO.
As part of the transaction, Mike Coleman will be joining LMO as market manager for the North Carolina assets.
“We are pleased to add, with this purchase, certain of Interstate Outdoor’s North Carolina assets to our subsidiary, Local Media Outdoor. This continues our strategy of targeted investment in pursuit of growth opportunities in the outdoor advertising business,” said Charles H. Morris, President and CEO of Morris Multimedia Inc.
“This acquisition firmly establishes outdoor advertising as the third media division of Morris Multimedia, joining affiliated television broadcasting and print/web publishing. Each division provides a full range of digital capabilities and services to its customers,” Morris added.
Warren Stancil, owner of Interstate Outdoor, said, “We have enjoyed our relationships with clients and landowners over the years, and are confident Local Media Outdoor will continue in those relationships.”
Morris Multimedia is a privately owned media company founded 49 years ago by Morris. The company owns newspapers, television stations, magazines, a digital Agency, and other assets in 10 states and the Caribbean.
Compiled from Morris Multimedia press release.