OMAHA, Neb.--(BUSINESS WIRE)--Link Media Outdoor (“Link”), a subsidiary of Boston Omaha Corporation (NASDAQ: BOMN), has completed the acquisition of Tammy Lynn Outdoor, LLC (“Tammy Lynn”), based in Bluefield, West Virginia. For over 25 years, Tammy Lynn has been owned and operated by Bud and Tammy Acken and grew to become West Virginia’s 5th largest outdoor advertising company with over 250 billboard faces.
“We’re very pleased to have worked with Bud and Tammy Acken on this transaction who have spent years building a wonderful plant with land costs averaging around 5% of revenue,” said Jim McLaughlin, President and CEO of Link. “Link is excited to expand into new territories, like West Virginia, and we look forward to having the employees of Tammy Lynn join our team.”
The majority of the purchase will be completed using cash but, as part of the consideration for the purchase, Mr. Acken will receive 85,170 shares of Boston Omaha Class A common stock. Boston Omaha has agreed to register these shares on a Form S-3 following the completion of the acquisition. As of July 31, 2018, Boston Omaha had 20,922,854 shares of Class A common stock and 1,055,560 of Class B common stock issued and outstanding.
For more information on Link Media or for any outdoor advertising needs, please visit www.linkmediaoutdoor.com.
About Link Media Outdoor
Link Media Outdoor is engaged in the outdoor advertising business with billboard structures located throughout Alabama, Florida, Georgia, Virginia, West Virginia, and Wisconsin.
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