U.S. Securities and Exchange Commission
                             Washington, D.C. 20549

                                   Form 10-QSB/A

                  This Amendment No. 1 is submitted to amend the following
August 31, 1999 information in the Registrant's Consolidated Balance Sheets,
which is included under Item 1 (on page 2) of the Registrant's original
Quarterly Report on Form 10-QSB filed on October 15, 1999 (the "Form 10-QSB"):
Current portion of long-term debt; total current liabilities; and long-term debt
less current portion. This Amendment also amends the August 31, 1999 working
capital amount specified in the first paragraph under "Liquidity and Capital
Resources," which is included under Item 2 (on page 9) of the Form 10-QSB. This
Amendment also amends the amount of current liabilities specified on Exhibit 27
to the Form 10-QSB.

        [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended                  August 31, 1999
                               -------------------------------------------------

       [ ] TRANSITION REPORT UNDER SECTION 13 OF 15(d) OF THE EXCHANGE ACT

 For the transition period from ___________________to___________________________

                        Commission File Number 000-21623

                             OBIE MEDIA CORPORATION
--------------------------------------------------------------------------------
(Exact name of small business issuer as specified in its charter)

         OREGON                                               93-0966515
--------------------------------------------------------------------------------
(State or other jurisdiction of                            (IRS Employer
incorporation or organization)                             Identification No.)


4211 West 11th Ave., Eugene, Oregon                  97402
--------------------------------------------------------------------------------
                    (Address of principal executive offices)

     541-686-8400                                          FAX 541-345-4339
--------------------------------------------------------------------------------
                           (Issuer's telephone number)


Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act  during  the past 12 months  (or such  shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. Yes [x]. No [ ].

     As of October 11, 1999, 5,322,949 shares of the issuer's common stock were
outstanding.

     This  report  contains 5 pages.

<PAGE>
                             OBIE MEDIA CORPORATION
                           Consolidated Balance Sheets


                                     ASSETS

                                                 August 31,       November 30,
                                                   1999              1998
                                               --------------    --------------
CURRENT ASSETS:
  Cash                                          $   421,460       $   326,140
  Accounts receivable, net                        6,981,079         6,719,218
  Prepaids and other current assets               2,086,021         1,156,061
  Deferred income taxes                             758,832           758,832
                                               --------------    --------------
      Total current assets                       10,247,392         8,960,251

PROPERTY AND EQUIPMENT, NET                      11,005,842        10,493,174
GOODWILL, NET                                     7,295,534         7,696,394
OTHER ASSETS, NET                                   343,731           497,512
                                               --------------    --------------
                                                $28,892,499       $27,647,331
                                               ==============    ==============


                      LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:
  Current portion of long-term debt             $ 1,443,375       $ 1,511,276
  Line of credit                                    502,778         1,414,877
  Accounts payable                                  735,384           780,268
  Accrued expenses                                1,423,557         2,674,287
  Income taxes payable                              438,374           299,090
  Deferred revenue                                1,654,438         1,247,470
                                               --------------    --------------
      Total current liabilities                   6,197,906         7,927,268

DEFERRED INCOME TAXES                               783,502           783,502
LONG-TERM DEBT, LESS CURRENT PORTION              5,156,625        13,354,395
                                               --------------    --------------
     Total liabilities                           12,138,033        22,065,165
                                               --------------    --------------

MINORITY INTEREST IN SUBSIDIARY                      35,424            35,424

SHAREHOLDERS' EQUITY:
  Preferred stock, without par value,
      10,000,000 shares authorized,
      no shares issued or outstanding
  Common stock, without par value;
      20,000,000 shares authorized,
      5,322,949 and 4,315,728 shares
      issued and outstanding, respectively       16,607,905         6,851,053
  Options issued for common stock                   211,763           211,763
  Foreign currency translation                          584                 -
  Accumulated deficit                              (101,210)       (1,516,074)
                                               --------------    --------------
      Total shareholders' equity                 16,719,042         5,546,742
                                               --------------    --------------

                                                $28,892,499       $27,647,331
                                               ==============    ==============

See accompanying notes
<PAGE>
Liquidity and Capital Resources

         We have  historically  satisfied our working capital  requirements with
cash from  operations and revolving  credit  borrowings.  Our working capital at
August  31,  1999 and  November  30,  1998 was $4.0  million  and $1.0  million,
respectively.  The increase in working  capital is  primarily  the result of our
stock offering,  which was completed in August,  1999. The net proceeds from the
offering  were used to  reduce  our debt,  including  borrowings  on our line of
credit.

         Net cash provided by operating  activities was $427,000 during the nine
months ended August 31, 1999 compared to $1.1 million  during the same period in
fiscal 1998. The decrease from the first nine months of fiscal 1998 to the first
nine months of fiscal 1999 was primarily due to  reductions in  liabilities  for
transit  district fees which were partially  offset by increases in deferred
revenue.

         Net cash used in investing  activities  was $1.3 million during each of
the nine  months  ended  August  31,  1999 and  1998.  These  expenditures  were
principally  related  to the  cost of  building  outdoor  advertising  displays,
upgrading our computer  capabilities and capital expenditures related to opening
new offices.

         Net cash  provided by  financing  activities  was $918,000 and $270,000
during the nine months ended August 31, 1999 and 1998,  respectively.  In August
1999, we completed an offering of 1,000,000 shares of our common stock at $11.00
per share,  the net  proceeds of $9.7  million  from the  offering  were used to
retire debt. As of August 31, 1999,  we had  borrowings on our line of credit of
$503,000 and available borrowing capacity,  based on collateralized accounts, of
$3.4 million.

         We expect to pursue a policy of continued growth through  obtaining new
transit district  agreements,  acquiring  out-of-home  advertising  companies or
assets and constructing new outdoor advertising  displays.  We intend to finance
our future  expansion  activities  using a combination  of internal and external
sources.  We believe that  internally  generated  funds and funds  available for
borrowing  under our bank credit  facilities  will be  sufficient to satisfy all
debt  service  obligations  and to finance our  existing  operations,  including
anticipated capital expenditures,  but excluding possible acquisitions,  for the
next twelve months.  We may require  additional debt or equity  financing in the
event of future  acquisitions,  if any, or if we obtain  significant new transit
advertising agreements.

Seasonality

         Obie  Media's  revenues  and  operating   results   historically   have
fluctuated by season.  Typically, our results of operations are strongest in the
fourth  quarter  and  weakest in the first  quarter of our  fiscal  year  ending
November  30. Our transit  advertising  operations  are more  seasonal  than our
outdoor  advertising  operations because our outdoor  advertising display space,
unlike  our  transit  advertising  display  space,  is and has been sold  nearly
exclusively by means of 12-month  contracts.  We believe that the seasonality of
our revenues and  operating  results  will  increase as our transit  advertising
operations  continue  to  expand  more  rapidly  than  our  outdoor  advertising
operations. This seasonality, together with fluctuations in general and regional
economic  conditions and the timing and expenses  related to  acquisitions,  the
obtaining of new transit agreements and other actions we have taken to implement
our growth strategy,  have contributed to fluctuations in our periodic operating
results.  These fluctuations likely will continue.  Accordingly,  our results of
operations in any period may not be indicative of the results to be expected for
any future period.

Market Risk

         We have not entered into derivative  financial  instruments.  We may be
exposed to future  interest  rate changes on our debt.  We do not believe that a
hypothetical  10 % change in interest rates would have a material  effect on our
cash flows.
<PAGE>
Signature

In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                                                   Obie Media Corporation


Date October 29, 1999                              By:/s/ James W. Callahan
                                                      James W. Callahan
                                                      Chief Financial Officer

Date October 29, 1999                              By: /s/ Michael E. Hubbard
                                                      Michael E. Hubbard
                                                      Corporate Controller