Lamar Advertising Company facts for kids
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| Public company | |
| Traded as |
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| Industry | Real estate investment trust, Advertising |
| Founded | 1902 |
| Founder | Charles W. Lamar |
| Headquarters | Baton Rouge, Louisiana, U.S. |
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Key people
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| Products | Outdoor Advertising |
| Revenue | US$1.57 billion |
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Number of employees
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3,300 |
Lamar Advertising is a big company that helps businesses show their ads outdoors. They use things like billboards, signs with company logos, and ads on buses or trains. You can see their ads all over the United States and Canada.
The company started way back in 1902. Its main office is in Baton Rouge, Louisiana. Lamar Advertising has over 325,000 displays, which are like giant canvases for ads! In 2014, they changed how they are set up. They became a "real estate investment trust" (REIT). This means they mostly own the land and spaces where their ads are placed.
How Lamar Advertising Started
Lamar Advertising Company was founded in 1902. It was started by two people, J.M. Coe and Charles W. Lamar. They worked together for three years.
In 1908, they decided to go their separate ways. They even flipped a coin to divide their businesses! Charles W. Lamar lost the coin toss. He ended up with the part of the business that made posters. He then renamed it the Lamar Outdoor Advertising Company. This is how the company got its name.
The other part of their business was the Pensacola Opera House. It was destroyed in a big hurricane in 1917. Later, a new theater called the Saenger Theatre was built on that same spot.
Growing Bigger
Lamar Advertising has grown a lot over the years. They have made deals to get more advertising spaces.
In 2004, Lamar traded some of its ad spaces. They swapped locations in South Carolina and Georgia. In return, they got new ad spaces in places like Palm Springs, California, and Fayetteville, North Carolina.
Later in 2004, Lamar bought another company called Obie Media Corporation. This added outdoor ads in Idaho, Oregon, and Washington. It also gave them contracts for ads on public transportation in some areas.
In 2016, Lamar made a very big purchase. They bought advertising rights in five major American cities. They paid $458.5 million for these rights from another company called Clear Channel Outdoor. This helped Lamar Advertising become even bigger.
