Pearl Media, in partnership with Seaport Capital, has acquired Lure Outdoor, expanding its out-of-home media portfolio in the United States, according to a company press release.
Based in New York, Lure Outdoor’s OOH mix includes more than 120 street-level billboards, barricades and storefronts in New York, Brooklyn, Chicago and Los Angeles.
Additionally, Pearl continues to focus on providing more brand-specific media buys through partnerships with mixed-use developments and OOH assets in downtown core markets across the country.
“Pearl Media was born into OOH at street level, pioneering the acceptance of storefronts into the OOH media mix over a decade ago,” Joshua Cohen, CEO of Pearl Media, said in the release. “Today the business has grown in many directions; however, we have never lost our love for the medium and recognized that Lure has done an incredible job of creating this high-level authorized inventory in certain of the best neighborhoods and cities across the country. . We couldn’t be more excited about the opportunity to continue to grow this portfolio with the expanded team.”
Lure has been supplying billboards and outdoor displays for eight years.
“Josh and his team have done an amazing job building Pearl into a leader in the OOH space and giving it the competitive edge it has today. Seaport has invested in OOH businesses for the past 25 years, and we believe Pearl’s collection and Lure’s assets are extremely unique and attractive in the markets in which they operate,” Seaport Capital Partner Bob Tamashunas said in the release. “We are excited to further develop the company they created and partnering with the team to help grow Pearl organically and inorganically.”
Pearl Media develops, manages and sells marketing, digital and static media opportunities. Working with real estate assets, Pearl develops urban cores, mixed-use commercial spaces, transit hubs and adjacent transit properties in markets with location-based static and digital signage.