Bloomberg reports that a Blackstone Media investment fund is buying a majority stake in New Tradition. Some details. The transaction values New Tradition at $500-750 million. New Tradition CEO Evan Richheimer and COO Brett Richheimer will stay on to run the company. New Tradition has been expanding. In April New […]
Billboard Insider answers your questions about Legion Partners, the 5% shareholder calling for a sale of Clear Channel Outdoor. Who is Legion Partners? Legion Partners is a California investment fund with $334 million in assets under management. The firm limits itself to 3-4 investments a year and 9-10 portfolio companies […]
Here’s a selection of Billboard Insider reader comments on Legion Partners call for Clear Channel Outdoor to sell. A finance exec says a sale is doable but faces some regulatory barriers. It would be very doable to sell the whole enchilada. Market cap is currently around $516MM. Put a 20% […]
Legion Partners, a 5.1% shareholder in Clear Channel Outdoor, has written a May 16, 2023 letter to the Clear Channel Outdoor board calling for a greater urgency in asset sales. Some of the highlights of the letter. Clear Channel Outdoor stock has underperformed. The letter points out that Clear Channel […]
Daktronics announced at the end of last week, they had closed on a 3 year $75 million senior secured credit facility with JP Morgan Chase. This is great news for the Company as it will replace and enhance a $35 million credit facility they had with U.S. Bank. In their […]
Boston Omaha released first quarter 2023 financials last week. Here are the segment results for the company’s Link Media Outdoor subsidiary. Revenues increased 13% to $10.3 million in the first quarter of 2023 due to organic revenue growth and the purchase of billboards from Elevation Outdoor in November 2023. Sales […]
Clear Channel Outdoor Revenue grew but cashflow (adjusted EBIDTA) declined during the first quarter of 2023. Here are the results of the Clear Channel Outdoor 1Q 23 earnings release, investor deck and conference call. Consolidated revenue excluding FX grew 7% to $545 million as growth in the company’s European operations […]
You may pay more and see tougher covenants the next time you renew your out of home bank loan. The April 2023 Federal Reserve Bank Senior Loan Officer Opinion Survey found that 50% of banks are tightening their commercial and industrial loan standards and that 60% of banks are raising […]
Lamar Advertising CEO Sean Reilly used words like “challenging” and “jitters” to describe what advertisers are thinking during yesterday’s Lamar conference call. Here are the results of the Lamar Advertising 1Q 23 earnings release and conference call. Revenue increased by 4.4% to $451 million due primarily to acquisitions. Organic revenue […]
Boston Omaha issued its 2022 annual investor letter. Hard to believe that the company just finished its eighth year. Some of our observations. Boston Omaha has outperformed the big three. Boston Omaha stock has grown 56% since it went public in June 2017. During the same time period Lamar grew […]
