Sun Media Sale

Situation

Sun Media was an operator of outdoor advertising in the south Puget Sound area of Washington State with nearly 500 displays strategically located along major thoroughfares, including a dominant presence along the I-5 corridor. As part of the 12th largest market in the country, the displays were prime locations for advertising placed by national companies. The owners recognized that a national outdoor media company with access to national advertising firms could substantially improve the economics of Sun Media’s displays.

ZS Role

Zachary Scott was engaged as exclusive financial advisor to contact national outdoor media companies and negotiate the sale of the business.

Results

A sale of the Sun Media’s assets was arranged with Lamar Advertising Company, one of the largest national outdoor advertising firms, following competitive bidding that attracted the major national players in the industry. Because of synergy value that Lamar accorded to Sun Media’s assets, the transaction resulted in an extremely attractive cash purchase price as a multiple of revenue.

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