On the Record · Lamar Advertising

Lamar Advertising acquisitions, on the record

The businesses Lamar Advertising bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

Business	Deal	When	Value
multiple acquisitions of outdoor advertising assets Word for word“During the year ended December 31, 2023, the Company completed multiple acquisitions for a total cash purchase price of approximately $139.0 million.” 10-K for 2023	acquisition	During the year ended December 31, 2023	approximately $139.0 million
acquisitions of outdoor advertising businesses and assets (24 acquisitions in aggregate) Word for word“During the year ended December 31, 2024, the Company completed 24 acquisitions for a total cash purchase price of approximately $45.4 million.” 10-K for 2024	acquisition	During the year ended December 31, 2024	approximately $45.4 million
Verde Outdoor Word for word“Additionally, Lamar Advertising Limited Partnership (“Lamar LP”), the subsidiary operating partnership of the Company and Lamar Media, acquired Verde Outdoor at a value of $147.6 million through the issuance of 1,187,500 Common Units of Lamar LP.” 10-K for 2025	acquisition	—	$147.6 million
over 50 acquisitions of outdoor advertising businesses and assets Word for word“During the year ended December 31, 2025, the Company completed over 50 acquisitions for a total cash purchase price of approximately $191.1 million.” 10-K for 2025	acquisition	During the year ended December 31, 2025	approximately $191.1 million
Company’s equity interest in Vistar Media, Inc. Word for word“The decrease of $4.9 million was primarily due to the sale of the Company’s equity interest in Vistar Media, Inc. in February 2025.” 10-K for 2025	divestiture	February 2025	—

As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year ended	Cash paid for acquisitions (net of cash acquired)	Goodwill from acquisitions
2016-12-31	$585.1 million	$180 million
2017-12-31	$297.3 million	$13.9 million
2018-12-31	$477.4 million	$182.1 million
2019-12-31	$226.3 million	$29.4 million
2020-12-31	$45.6 million	—
2021-12-31	$312.3 million	$24.1 million
2022-12-31	$479.8 million	$99 million
2023-12-31	$139 million	—
2024-12-31	$45.4 million	—
2025-12-31	$191.1 million	$76.1 million

Deal filings since 2016

2026-10-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-10-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-09-24 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2024-10-21 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2024-07-26 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2023-08-02 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2023-05-02 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2022-08-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2022-07-07 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2022-06-30 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-07-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-06-22 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-06-21 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-05-28 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-01-28 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-10-26 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-08-25 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-07-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-05-19 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-02-12 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2019-02-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2019-01-22 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-12-28 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-12-28 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2018-12-21 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-12-12 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-05-02 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-03-21 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-05-19 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-05-31 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-02-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-01-13 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement

Read from Lamar Advertising’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-20. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.