Lamar Advertising Co. could acquire Phoenix-based American Outdoor Advertising, the largest independent billboard company in Arizona, according to the Phoenix Business Journal.

Baton Rouge-based Lamar is one of the largest billboard and outdoor advertising companies in the United States. American Outdoor Advertising has more than 300 billboards, including 30 digital billboards in the Phoenix area.

Lamar and American Outdoor could announce a deal soon if they come to terms, according to the Phoenix Business Journal. Neither company commented on the possible merger or acquisition.