SPO Partners ups stake in Lamar Advertising to 16.3%

By Lisa Kerner

Charlotte, N.C., April 15 - Investors led by SPO Partners II, LP increased their ownership stake in Lamar Advertising Co. to 16.3% from 14.9% with the purchase of additional shares of the company's stock between March 28 and April 14, according to a schedule 13D/A filing with the Securities and Exchange Commission.

SPO now owns 12,743,384 shares of the Baton Rouge, La., outdoor advertising company. The investor reported owning 11,654,569 shares on March 24, a prior SEC filing stated.

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