Lamar Advertising Company | Introduction
Introduction
5551 Corporate Boulevard
Baton Rouge,
Louisiana 70808
U.S.A.
Telephone: (225) 926-1000
Fax: (225) 923-0658
Web site: http://www.lamar.com
Public Company
Founded: 1902
Employees: 3,000
Sales: $810.1 million (2003)
Stock Exchanges: NASDAQ
Ticker Symbol: LAMR
NAIC: 541850 Display Advertising
Lamar Advertising Company is the third-largest outdoor advertising company in the United States, ranking behind Outdoor Systems, Inc. and Clear Channel Communications, Inc., both of which have more assets and larger networks than Lamar. Lamar has closed the gap with its recent acquisitions, however, and now operates the most outdoor displays in the United States and ranks third in outdoor advertising companies. Through two of its subsidiaries, Lamar Outdoor Advertising and Lamar Transit Advertising, it manages approximately 149,000 billboards in 43 states. The company operates 34 transit advertising franchises in 12 states with displays posted on buses, bus shelters, and benches. Through a third subsidiary, Interstate Logos, Inc., it provides 97,500 logo displays for limited access highways, including federal Interstates. These are green highway exit signs that post logo information about nearby restaurants, gas stations, and motels. Lamar has also secured contracts in Ontario, Canada, and in 20 of the 25 states that allow private contractors to fabricate the signs. It is the primary provider of such services in the United States. In addition, the company offers graphic design and production services for its customers. In total, Lamar operates 152 outdoor advertising companies through its subsidiary network. Although its central management offices are housed in its 53,500-square-foot headquarters in downtown Baton Rouge, Louisiana, much local autonomy is allowed the managers of each of these companies, and they remain in charge of day-to-day company operations. Even though it is a public company, Lamar remains a family business under the control of third and fourth generation members of the Lamar and Reilly families. Robert Switzer, the great-grandson of Charles Lamar, Sr., serves as vice-president of operations. CEO and president Kevin Reilly, Jr. owns approximately 40 percent of the business, and Charles Lamar III and his sister, Mary Lee Lamar Dixon, great-grandchildren of the company's founder, own about 27 percent.