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EIGHTY PERCENT (80%) OF ALL THE BILLBOARDS IN 1. Lamar Advertising (now Lamar Media). On February 10, 2000, Lamar Advertising Company (now Lamar Media Corp.) (Nasdaq: LAMR) announced record 1999 Fourth Quarter and Year End Operating Results. In its recently filed 1999 Form 10-K, Lamar disclosed that it had completed seventy-seven (77) acquisitions of other outdoor advertising businesses during 1999. See: http://www.lamar.com/ 2. Infinity Outdoor. In a news release on April 25, 2000, Infinity Broadcasting Corporation (NYSE: INF) announced that the first quarter ended March 31, 2000 had record operating results. Infinity owns Infinity Outdoor, which is reportedly the largest billboard company in North America. According to the release: "Net revenues for the first quarter of 2000 were a record $789 million, as compared to $474 million for the first quarter of 1999, an increase of approximately 66%. The increase was due to strong advertising revenues at the Company's radio stations and the Company's outdoor advertising business, as well as the acquisition of Infinity Outdoor, formerly known as Outdoor Systems, Inc. ("OSI"), in December 1999. * * * See: http://outdoorsystems.com/ Note: "In December 1999, the Company [Infinity Broadcasting Corp.] acquired Outdoor Systems, Inc. (Outdoor Systems), now known as Infinity Outdoor, Inc., for approximately $8.7 billion." Note: Infinity Broadcasting is a majority-owned company by CBS. On April 26, 2000, the Justice Department gave a green light for the merger of CBS into Viacom, valued at $43 billion. 3. Clear Channel/Eller Media. In a news release on April 26, 2000, Clear Channel Communications, Inc. (NYSE: CCU) announced that the first quarter ended March 31, 2000 was the most successful first quarter in the Company's history. Clear Channel's Eller Media division is the largest billboard company in the world. |