Key Developments For Lamar Advertising Company
Lamar Advertising Company (LAMR.O) (Nasdaq)
Lamar Advertising Company Issues Q4 2009 Revenue Guidance In Line With Analysts' Estimates
Lamar Advertising Company announced that for the fourth quarter of 2009, it expects net revenue to be approximately $257.0 million. On a pro forma basis this represents a decrease of approximately 7.0%. According to Reuters Estimates, analysts are expecting the Company to report revenues of $253 million for the same period.
Lamar Advertising Company Issues Q3 2009 Revenue In Line With Analysts' Estimates
Lamar Advertising Company announced that for third quarter of 2009, it expects net revenue to be approximately $264.0 million. According to Reuters Estimates, analysts were expecting the Company to report revenues of $270.7 million for the same period.
Lamar Advertising Company Issues Q2 2009 Revenue Outlook In Line With Analysts' Estimates
Lamar Advertising Company announced that for second quarter of 2009, it expects net revenue to be approximately $275.0 million. According to Reuters Estimates, analysts were expecting the Company to report revenues of $276 million for the same period.
Lamar Advertising Company Announces Tender Offer for 2 7/8%Convertible Notes Due 2010 - Series B
Lamar Advertising Company announced that it has commenced a tender offer to purchase for cash any and all of its outstanding 2⅞%Convertible Notes due 2010 - Series B. The full terms and conditions of the tender offer are set forth in the Offer to Purchase, Letter of Transmittal and related materials to be distributed to holders of notes and to be filed with the SEC as exhibits to Lamar`s Schedule TO on or about the date hereof. Lamar is offering to purchase the notes at a price of $920 for each $1,000 principal amount of notes tendered. The tender offer for the notes will expire at 12:00 midnight, New York City time, at the end of April 17, 2009, unless earlier terminated or extended pursuant to the terms of the tender offer. Tendered notes may be withdrawn at any time prior to the expiration time. Payments of the purchase price and accrued interest up to but not including the payment date for the notes validly tendered and not withdrawn on or prior to the expiration time and accepted for purchase will be made promptly after the expiration time. The tender offer will not be contingent upon any minimum number of notes being tendered.The purpose of the offer is to purchase the notes in order to retire the debt associated with the notes.
Lamar Advertising Company Prices Private Offering Of Senior Notes
Lamar Advertising Company announced that it has agreed to sell $350,000,000 aggregate principal amount ($314,926,500 gross proceeds) of 9.75% Senior Notes due 2014 through an institutional private placement by its wholly owned subsidiary Lamar Media Corp. The Company had previously announced a proposed notes offering of $250,000,000 gross proceeds and the offering size was increased to $314,926,500 gross proceeds based on market demand. The proceeds, after the payment of fees and expenses, to Lamar Media of this offering are expected to be approximately $306,500,000. Subject to customary closing conditions, the closing of the offering is expected on or about March 27, 2009.
