09:15 AM EDT, 08/13/2026 (MT Newswires) -- Lamar Advertising ( LAMR ) said Thursday that it has acquired the assets of AdSource Outdoor Advertising in an UPREIT, or umbrella partnership real estate investment trust, transaction.

The acquisition, which closed Wednesday, includes more than 230 billboard faces in Louisiana, including 30 digital displays, the company said. Financial terms were not provided.

Under the deal, AdSource contributed its assets to Lamar's operating partnership subsidiary Lamar Advertising Limited Partnership, and in exchange, AdSource shareholders received common units of Lamar LP, which track the value of Lamar's class A shares, according to a statement.

The company said Lamar LP common unit holders will receive cash distributions on each common unit in an amount equal to the per-share dividend paid on Lamar's common stock, and common units of Lamar LP are convertible into cash or Lamar class A shares.