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· · Comments are Disabled · 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· · Comments are Disabled · 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· · Comments are Disabled · 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· · Comments are Disabled · 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· · Comments are Disabled · 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· · Comments are Disabled · 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· · Comments are Disabled · 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· · Comments are Disabled · Finance

Landmark Portfolio Update

The outdoor easement and lease purchaser Landmark Outdoor has released 2016 financials.  Here are the highlights from Insider’s review of the 2016 financials and Seeking Alpha earnings call transcript.  Insider has summarized Landmark’s Outdoor Advertising Investments in the following table. Landmark Infrastructure Outdoor Advertising Real Estate Property Interests 2015 and 2016 Landmark’s outdoor site portfolio increased by 62% to 440 sites during 2016. Outdoor accounts for 28% of Landmark’s 1,565 total sites at December 2016. The average monthly outdoor rent […]

by billboardinsider· · Comments are Disabled · Finance

Clear Channel Outdoor Revenue down 6% due to to asset sales.

Clear Channel Outdoor released financials for the fourth quarter of 2016 (3 months ended December 31, 2016).  For more details see the 2016 financials and Seeking Alpha Earnings call transcript.  Consolidated Clear Channel Outdoor revenue excluding foreign exchange decreased by 6% to $746 million during the fourth quarter of 2016 due to outdoor plant sales earlier in the year.  Americas revenue was up 3.1% when adjusted for assets sales which tops Lamar’s acquisition adjusted growth of 2% and Outfront’s acquisition […]

by billboardinsider· · Comments are Disabled · Finance