ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Friday, October 4, 1996 TAG: 9610040027
SECTION: BUSINESS PAGE: A-7 EDITION: METRO
SOURCE: MEGAN SCHNABEL
Billboard company Lamar Advertising Co. of Roanoke said Thursday it has purchased the billboard assets of Colonial Outdoor Advertising, also of Roanoke.
Colonial owned billboards in Roanoke, Roanoke County, Radford and Henry County. It sold signs providing a total of 50 outdoor displays to Lamar, according to Keith Austin, vice president and general manager of Lamar in Roanoke.
No one was available at Colonial to comment on the sale late Thursday. Terms of the sale were not disclosed.
Lamar now owns more than 650 outdoor displays in the Roanoke and Lynchburg areas. This is the company's second acquisition in the past year. Last December, Lamar bought 200 billboards from Dominion Signs Inc. in the Roanoke and Richmond markets.
"Our company's always interested in growth situations," Austin said.
Lamar, based in Baton Rouge, La., owns and operates billboards in 13 states. It has operated in the Roanoke area since 1983. Lamar also maintains the roadside information signs that announce restaurants, hotels and gas stations in 15 states, including Virginia.
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