Market Overview

Link Media Outdoor Announces the Acquisition of Key Outdoor, Inc.

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Link Media Outdoor ("Link"), a subsidiary of Boston Omaha Corporation
(NASDAQ:BOMN), has completed the acquisition of substantially all of
the operating assets of Key Outdoor, Inc. ("Key Outdoor"), based in
Bourbonnais, Illinois. Founded in 1977, Key Outdoor has grown to become
one of the leading outdoor companies in the Midwest with over 700
structures and almost 1,800 advertising faces, located in Illinois, Iowa
and Missouri.

"We are pleased to announce the acquisition of Key Outdoor, a billboard
business built with great care by the Dahl family over the past 40 plus
years with land costs recently averaging around 20% of revenue," said
Jim McLaughlin, President and CEO of Link. "This is Link's first
acquisition in the region and we hope to continue to expand our
footprint further over time in the Midwest and other areas of the
country. This acquisition, along with our recently announced acquisition
of Tammy Lynn Outdoor, LLC, increases our billboard advertising faces by
almost 200% since June 30, 2018."

The purchase price for the acquisition was $38,000,000 in cash. A
portion of the purchase price will be retained by Link for a period of
up to 18 months as a partial source of recourse for any indemnification
claims by Link. The purchase price is also subject to certain prorations
of revenues and expenses to be determined within 90 days following the
closing. Each of Key Outdoor and its shareholders have also agreed to
not compete with the business for a period of five years.

For more information on Link Media or for any outdoor advertising needs,
please visit www.linkmediaoutdoor.com.

About Link Media Outdoor

Link Media Outdoor is engaged in the outdoor advertising business with
over 1,280 billboard structures and 2,900 advertising faces located in
Alabama, Florida, Georgia, Illinois, Iowa, Missouri, Virginia, West
Virginia, and Wisconsin.

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995
provides safe harbor protections for forward-looking statements in order
to encourage companies to provide prospective information about their
business. Forward-looking statements include statements concerning
plans, objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts. The Company desires to take advantage of
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and is including this cautionary statement in connection
with this safe harbor legislation. The words "believe," "anticipate,"
"intends," "estimate," "forecast," "project," "plan," "potential,"
"may," "should," "expect," "pending" and similar expressions identify
forward-looking statements. The forward-looking statements in this press
release are based upon various assumptions, many of which are based, in
turn, upon further assumptions, including without limitation, our
management's examination of historical operating trends, data contained
in our records and other data available from third parties. Although we
believe that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections.

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