US OOH major Lamar Advertising Company has acquired the billboard operations of Fairway Outdoor Advertising from GTCR, LLC, for reportedly $418.5 million. Through this buyout, the company adds more than 8,500 high-quality billboards, including more than 135 digital displays.

A Nasdaq online report states that the company is making concerted efforts to incubate its business and increase market share in the U.S. outdoor advertising business. “Amid increasing popularity of this advertisement medium, on account of technological advancements in the outdoor segment and its wider reach, the company's focus to expand market share is a strategic fit.”

Further, the all-cash acquisition strengthens its position in five U.S. markets - Greenville/Spartanburg, SC, Raleigh-Durham, NC, Greensboro/Winston-Salem, NC, Athens, GA, and La Crosse, WI.