Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
ABRAMS CAPITAL MANAGEMENT, L.P.
  2. Issuer Name and Ticker or Trading Symbol
LAMAR ADVERTISING CO/NEW [LAMR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
222 BERKELEY STREET, 22ND FLOOR, 
3. Date of Earliest Transaction (Month/Day/Year)
05/01/2012
(Street)

BOSTON, MA 02116
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock, par value $0.001 per share 05/01/2012   S   35,400 D $ 32.1597 9,013,741 I See Footnotes (1) (2) (3) (4) (5)
Class A Common Stock, par value $0.001 per share 05/01/2012   S   28,518 D $ 32.1907 8,985,223 I See Footnotes (1) (2) (3) (4) (5)
Class A Common Stock, par value $0.001 per share 05/01/2012   S   4,300 D $ 32.1944 8,980,923 I See Footnotes (1) (2) (3) (4) (5)
Class A Common Stock, par value $0.001 per share 05/02/2012   S   84,170 D $ 31.8009 8,896,753 I See Footnotes (1) (2) (3) (4) (5)
Class A Common Stock, par value $0.001 per share 05/02/2012   S   178,300 D $ 31.8005 8,718,453 I See Footnotes (1) (2) (3) (4) (5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ABRAMS CAPITAL MANAGEMENT, L.P.
222 BERKELEY STREET, 22ND FLOOR
BOSTON, MA 02116
    X    
ABRAMS CAPITAL MANAGEMENT, LLC
222 BERKELEY STREET, 22ND FLOOR
BOSTON, MA 02116
    X    
ABRAMS CAPITAL LLC
222 BERKELEY STREET
22ND FLOOR
BOSTON, MA 02116
    X    
Abrams David C
222 BERKELEY STREET
22ND FLOOR
BOSTON, MA 02116
    X    

Signatures

 /s/ Abrams Capital Management, L.P., by Abrams Capital Management, LLC, the General Partner, by David C. Abrams, Managing Member   05/03/2012
**Signature of Reporting Person Date

 /s/ Abrams Capital Management, LLC, by David C. Abrams, Managing Member   05/03/2012
**Signature of Reporting Person Date

 /s/ Abrams Capital, LLC, by David C. Abrams, Managing Member   05/03/2012
**Signature of Reporting Person Date

 /s/ David C. Abrams   05/03/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These securities are held by investment funds, the general partner and/or investment adviser of which is directly or indirectly controlled by David C. Abrams. In such capacity, Mr. Abrams may be deemed to beneficially own the reported securities.
(2) These securities are held by investment funds for which Abrams Capital Management, L.P. (the "LP") serves as investment adviser. Abrams Capital Management, LLC (the "LLC") serves as the general partner of the LP. In their respective capacities, each of the LP and the LLC may be deemed to beneficially own the reported securities.
(3) A portion of these securities are held by investment funds for which Abrams Capital, LLC ("Abrams Capital") serves as general partner. In such capacity, Abrams Capital may be deemed to beneficially own the reported securities.
(4) Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and the inclusion of such securities in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or for any other purpose.
(5) As of May 1, 2012, Abrams Capital may be deemed to beneficially own 8,440,128 shares of Class A Common Stock and Mr. Abrams, the LP and the LLC may be deemed to beneficially own 8,980,923 shares of Class A Common Stock. As of May 2, 2012, Abrams Capital may be deemed to beneficially own 8,193,477 shares of Class A Common Stock and Mr. Abrams, the LP and the LLC may be deemed to beneficially own 8,718,453 shares of Class A Common Stock.

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