Author: Dave Westburg

Billboard Investing

New SEC Rules won’t Make It Easier for Small Billboard Companies to Raise Money

On September 30, 2013 the SEC eliminated an 80 year old rule which prohibited companies from soliciting investments via public advertising.  This is a good thing, right?  Nothing can stop your small billboard company from placing a banner on its website saying “Investors Wanted” or from putting up an “Investors […]

Billboard Business Interviews

Five Questions for Frank Rolfe of outdoorbillboard.com

Franke Rolfe is a successful billboard entrepreneur and educator.  From 1982 to1996 Frank built the largest privately owned billboard company in Dallas.  Frank sold this company to Universal Outdoor (predecessor to Clear Channel) and subsequently owned a billboard company in Los Angeles which he successfully sold to Heywood Outdoor.  Frank runs the […]

Billboard Business Billboard Values Interviews

Five Questions for Paul Wright of SignValue, Inc.

SignValue, Inc. is the leading valuation and advisory firm in the country located in Mesa, Arizona.  They operate the signvalue.com website listing dozens of billboards for sale around the United States.  Paul Wright is an expert on trends in the billboard industry and a certified appraiser.  His book  Billboard Appraisal: The Valuation of Off-Premise Advertising Signs is a must read for […]

US out-of-home revenues

Outdoor revenue up 4.5% in 1Q 2013

Outdoor ad revenue rose 4.5% to $1.4 billion in the first quarter of 2012 according to the Outdoor Advertising Association of America. The outdoor sector’s improvement exceeded US radio revenues (flat for the first quarter according to Radio Advertising Bureau). Outdoor revenues also grew faster than the 1.1% growth in […]

Billboard Business

Why I like the billboard business

My company makes loans and investments in the following sectors: outdoor advertising, radio, tower and catv. The outdoor advertising business is my favorite lending and investing sector. Here’s why. First, there are barriers to entry in the form of restrictive building codes which keep competitiors out. Second, the outdoor advertising […]

Billboard Lending

Billboard Loan Collateral

A billboard lender will secure a billboard loan by taking a UCC-1 filing on cash, inventory, equipment and intangibles, an assignment of your material agreements (think ad contracts and leases) and a pledge of stock in your company. If you own land under your signs a lender will probably also […]

Billboard Business

Good and Bad Billboard Leases

Have seen lots of billboard leases over the past 20 years. A bad lease can make it difficult to get financing or ruin your business prospects. What’s in a good billboard lease. 1. A term of at least 20 years with optional extensions. 2. Assignability to someone else without consent. […]