Finance

Marty Williamson Sells Outdoor Assets and Starts Brokerage Business

Experienced out of home advertising executive and independent operator, Marty Williamson just sold the out of home assets of American Outdoor and USA Outdoor to Horton Outdoor.  Williamson is a 34 year veteran of the out of home business.  He began his career in 1983 as an Account Executive with Georgia Outdoor Advertising, Inc.  In 1997 he went into business for himself and has since founded 5 companies. Marty tell us about your sale. Horton Outdoor (the company which bought […]

by billboardinsider· · 0 comments · Finance

Seeking Alpha bullish on Outfront

Seeking Alpha has published a bullish article on Lamar titled: “This Billboard REIT Has Plenty of Buzz.”  Analyst Brad Thomas gives the company a buy rating due to superior assets in prime, iconic locations and upside from potential cell/data leases . Thomas notes that one of the benefits of out of home is modest capex.  He estimates that even with digital sign conversions, capexp is 3-5% of revenue for out of home versus 6-13% of revenue for most other forms […]

by billboardinsider· · 0 comments · Finance

iHeartMedia Creditors Move to Block Debt Restructuring

Reuters reported on Friday the 21st that a group of iHeartMedia lenders have signed a cooperation agreement to oppose the debt overhaul of the largest owner of U.S. radio stations and the parent company of Clear Channel Outdoor. Insider has previously reported  on iHeart and their proposed debt swap. The proposal was originally contingent on a three tier participation scenario providing potential discounts to iHeart on the existing debt of 12-25%, extending the maturity date of the notes and reducing the […]

by John Weller· · 0 comments · Finance

Huntington Outdoor Buys Echo Outdoor

Huntington Outdoor has recently acquired Echo Outdoor billboards located in Sidney, Ohio. Huntington Outdoors mission is to help small businesses thrive and the buyout of Echo Outdoor provides Huntington with more opportunities to achieve this mission. “We are thrilled to announce the buyout of Echo Outdoor,” said Justin Powell, CEO of Huntington Outdoor. “Sidney is a wonderful area to advertise in and as a company, we are always looking for prime advertising locations to offer our clients.” Paid Advertisement

by billboardinsider· · 0 comments · Finance

Outdoor Valuations Increase in 1Q 2017

Outdoor advertising valuations increased during the first quarter of 2017 as you can see from the following chart. The revenue multiple for the four public out of home companies increased from 3.6 times at December 2016 to 3.8 times at March 2017. The cashflow multiple for the four public companies increased form 12.9 times at December 2016 to 13.4 times at March 2017. Lamar trades at a group high 6.4 times revenue and 15.3 times cashflow.  Insider attributes this to […]

by billboardinsider· · 0 comments · Finance

Outdoor Stocks Exceed Market In 1Q 2017

US Out of home stocks outperformed the market during the first quarter of 2017.  A portfolio of the three public US outdoor companies (Clear Channel Outdoor, Lamar Advertising and Outfront Media) increased by 16% per annum during the first quarter of 2017 (3 months ended March 31, 2017) well above the 6% increase for the S&P 500 during the same period. Clear Channel Outdoor stock increased 20% during the first quarter of 2017.   Perhaps the firm’s asset sales and […]

by billboardinsider· · 0 comments · Finance

iHeart Media Stock Is Moving Up

Since we reported on the iHeart Media debt swap proposal, there have been some signs of how the market might react.  iHeart Media is a privately held company with Bain Capital and Thomas H. Lee Partners owning the bulk of the old Clear Channel Radio since 2008.  However, there is some stock that trades privately, over the counter, as IHRT.  Typically 2,000 to 3,000 shares trade on a daily basis. The day after the announcement 480,000 shares were traded with […]

by John Weller· · 0 comments · Finance

What’s your out of home succession plan?

Insider has been lending to media companies for almost 30 years.  On two occasions business owners died suddenly.  One was hit by a train.  Another had a heart attack and died while watching TV with his family.  What happens to your our of home business if you die?  Here are four things you need to be prepared. A will.  You need to be clear on who inherits your assets.  Otherwise your heirs may have to go through a lengthy and […]

by billboardinsider· · 0 comments · Finance

Max Drachman on recent out of home sales.

Max Drachman of Kailil and Co closed three deals last week.  Insider asked Max for an update.   Max, in our February interview, you mentioned some deals were about to close.  Can you bring Insider up to speed?  Definitely.  Last week we closed the following transactions: We assisted Franklin Outdoor in their acquisition of Clear Channel Outdoor’s assets in Rochester, Minnesota.  It was a natural extension for the Franklin team and allowed them to continue their growth in the northern midwest. […]

by billboardinsider· · 0 comments · Finance

Legendary Billboard Plant For Sale

A legendary billboard plant in Richmond Indiana is for sale.  The plant was built by Tom Raper, an Indiana entrepreneur who made money in the RV business, real estate and billboards.  He built the billboards to provide advertising support for his RV dealership.  Raper died in 2015 and his estate is now selling the billboards.  Insider talked with John Savey who represents the estate in the billboard sale.  Contact John Savey @ 407-466-6910 or at jmsavey@cfl.rr.com if you’d like more […]

by billboardinsider· · 0 comments · Finance