Pearl Media, in partnership with Seaport Capital, has acquired Lure Outdoor, expanding its out-of-home media portfolio in the U.S., according to a company press release.

Based in New York City, Lure Outdoor's OOH mix encompasses more than 120 street level billboards, barricades and storefronts throughout New York City, Brooklyn, Chicago and Los Angeles.

In addition, Pearl continues to focus on delivering brands more specific media buys through partnerships with mixed-use developments and OOH assets in urban core downtown markets around the country.

"Pearl Media was born in OOH on the 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 several directions; however, we have never lost our love for the medium and we recognized Lure has done an amazing job building out this high-profile permitted inventory in some of the top neighborhoods and cities in the country. We could not be more thrilled about the opportunity in front of us to continue to build out this portfolio with the expanded team."

Lure has been delivering outdoor billboards and displays for the past eight years.

"Josh and his team have done an extraordinary job building Pearl into a leader in the OOH space and giving it the competitive edge that it has today. Seaport has invested in OOH companies over the last 25 years, and we believe that the collection of Pearl and Lure assets is extremely unique and attractive in the markets in which they operate," Bob Tamashunas, a partner at Seaport Capital, said in the release. "We are excited to further develop the business they have created and partner with the team to help grow Pearl both organically and inorganically."

Pearl Media develops, manages and sells marketing, digital and static media opportunities. Working with real estate assets, Pearl develops urban core, mixed-use commercial space, transit centers and transit adjacent properties in markets with place-based static and digital signage.

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