SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
December 7, 2000
Date of Report
(Date of earliest event reported)
OBIE MEDIA CORPORATION
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(Exact name of registrant as specified in its charter)
Oregon 000-21623 93-0966515
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(State of Incorporation) (Commission File No.) (IRS Employer Ident. No.)
4211 West 11th Avenue, Eugene, Oregon 97402
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(Address of principal executive offices)
(541) 686-8400
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(Registrant's telephone number)
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ITEM 1 - CHANGES IN CONTROL OF REGISTRANT
Not Applicable.
ITEM 2 - ACQUISITION OR DISPOSITION OF ASSETS
Not Applicable.
ITEM 3 - BANKRUPTCY OR RECEIVERSHIP
Not Applicable.
ITEM 4 - CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Not Applicable.
ITEM 5 - OTHER EVENTS
See press release below
Item 6 - RESIGNATIONS OF REGISTRANT'S DIRECTORS
Not Applicable.
Item 7 - FINANCIAL STATEMENTS AND EXHIBITS
Not Applicable.
Item 8 - CHANGES IN FISCAL YEAR
Not Applicable.
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[OBIE MEDIA LOGO]
OBIE MEDIA WINS CONTRACT FOR CHICAGO TRANSIT AUTHORITY
Company Awarded Largest Single Transit Contract in United States
EUGENE, Ore. - December 7, 2000 - Obie Media Corp. (Nasdaq: OBIE), a leading
provider of out-of-home advertising products and services in North America,
announced today that it has been named the winning bidder by the Chicago Transit
Authority (CTA) for an exclusive contract that will cover transit advertising on
buses, trains and rail stations in the Chicagoland area.
The CTA is the 2nd largest transit system in the United States, comprising a
fleet of 1875 buses, 1190 rapid transit railcars, and 140 rail stations,
including locations at O'Hare and Midway airports. The contract permits the sale
of Obie Media's large format graphic signature products including full-backs and
coach murals as well as traditional transit advertising products.
The contract, which begins on January 1, 2001, has been awarded to Obie Media
for a period of three years with pre-negotiated CTA options for two additional
years. Obie Media expects that this agreement will increase revenues by more
than $250 million over the full 5-year duration of the contract, if the options
are exercised.
Obie Media's revenues are expected to exceed $50 million in fiscal 2000. With
the anticipated growth in current markets and the addition of the CTA, Obie
Media's sales are projected to approach $100 million in fiscal 2001.
"This is a breakthrough agreement for Obie Media, and one that solidly positions
our Company for continued growth," said Brian Obie, CEO and President of Obie
Media. "The Chicago Transit Authority contract is the largest single transit
contract in the United States, and among the most important that Obie Media has
ever won. Not only will the engagement generate significant revenue enhancements
for Obie Media, but it should also be an important driver of growth throughout
our Company. Looking ahead, we expect to use Chicago as the cornerstone of our
growth in the Midwest, and to leverage the CTA inventory to increase our
presence, particularly of our growing sales force, throughout the United States
and Canada."
"Advertising on public transportation is a unique way to reach hundreds of
thousands of people every day. The CTA not only provides more than 1.5 million
rides each day on our trains and buses, but millions of passers-by can view the
ads as our trains and buses travel throughout the City of Chicago and the 38
suburbs served by the CTA. With the continuing increases in CTA ridership,
transit advertising is one of the best advertising options for businesses to
quickly reach a large and diverse audience," said CTA President Frank Kruesi.
-more-
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Conference Call Information
In order to provide an opportunity to discuss Obie Media with management, there
will be a conference call today, Thursday, December 7, 2000 at 12:15pm (EST).
All interested parties are invited to participate in this call. From the US,
please dial 1-888-434-1242 and ask to be connected to the Obie Media conference
call. International callers please dial 212-993-0241.
If you are unable to participate, a rebroadcast of the call will be available
beginning at 2:15pm (EST) on Thursday, December 7 until Thursday, December 14 at
2:15pm (EST). To access the rebroadcast domestically, please dial 800-633-8284,
reservation #17187182. International callers please dial 858-812-6440.
About Obie Media
Obie Media Corporation is a leading full-service out-of-home advertising company
based in Eugene, Oregon. The company sells, designs, produces and installs
out-of-home advertising displays which include transit posters, billboards,
wallscapes, transit shelters and bus benches throughout the United States and
Canada. Obie Media's common stock is traded on the Nasdaq National Market under
the symbol "OBIE."
This news release may contain certain forward-looking statements that involve a
number of risks and uncertainties. The company's actual results could differ
materially from the forward-looking statements. Factors that could cause or
contribute to such differences include failure to realize anticipated revenues
from newly awarded contracts, failure to successfully conclude negotiations on
pending transactions or to successfully assimilate expanded operations,
inability to generate advertising revenues to meet contractual guarantees, and
cancellation or interruption of contracts with governmental agencies, as well as
those factors described from time to time in the company's SEC reports,
including, but not limited to, Exhibit 99.1 incorporated by reference in the
company's Form 10-KSB for fiscal 1999.
# # #
CONTACT
Tobin Robbins
Senior Vice President/Administration
4211 West 11th Avenue
Eugene, Oregon 97402-5435
Telephone: (800) 233-6243 or (541) 686-8400.
Fax: (541) 683-3212.
Web: www.obie.com.
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OBIE MEDIA CORPORATION
FORM 8-K
Signatures
In accordance with the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
OBIE MEDIA CORPORATION
Date: December 11, 2000
/s/Tobin Robbins
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Tobin Robbins,
Senior Vice President/Administration
