Lamar Advertising Expands Cleveland Footprint with COA Asset Acquisition — Lamar Advertising Company

Event summary

Lamar Advertising acquired the assets of Cleveland Outdoor Advertising (COA) for an undisclosed cash amount on February 2, 2026.
The deal adds 31 high-profile bulletin faces and over 40 junior bulletin faces to Lamar’s Cleveland portfolio.
COA was founded 47 years ago by Debra Abdalian-Thompson and Stephen Thompson, growing from a junior poster plant to a premium bulletin operator in the Cleveland metro area.
Abdalian-Thompson, a 2017 OAAA Hall of Fame inductee, endorsed Lamar as the successor to COA’s legacy.

The big picture

This acquisition reinforces Lamar’s strategy of consolidating the outdoor advertising space by absorbing well-established regional players. The deal underscores the ongoing trend of larger operators absorbing smaller, legacy firms to strengthen their market dominance. With COA’s premium locations, Lamar further solidifies its position in Cleveland, a key market for high-impact billboard advertising.

What we're watching

Portfolio Integration: How Lamar will assimilate COA’s high-profile bulletin faces into its existing Cleveland operations and whether it can maintain the acquired locations’ premium status.
Market Consolidation: The pace at which Lamar continues to expand its footprint in key urban markets, particularly through strategic acquisitions of smaller, legacy operators.
Industry Legacy: Whether Lamar can sustain the reputational capital associated with COA’s founders, particularly given Debra Abdalian-Thompson’s influential role in the OOH industry.