Finance

Landmark Emphasizing Renewable Site purchases.

Landmark CEO Tim Brazy had some interesting things to say in the Landmark’s first quarter earnings release conference call.  You can read the Seeking Alpha transcript of the call here. Landmark has launched a Unit Exchange program in which is will give landowners Landmark Units rather than cash to purchase easements.  This will enable the landowner to defer capital gains taxes until the Landmark units are sold. Landmark is emphasizing renewable energy site purchases.  The firm’s revenues are currently 80% […]

by billboardinsider· · Comments are Disabled · Finance

Outfront goal: convert 100 statics to digital each year.

Outfront Media announced first quarter 2016 earnings yesterday.  You can find the financials here , review the earnings all powerpoint here and read the Seeking Alpha conference call transcript here.  Lots of things to note.   Revenues grew 3% to $346 million when adjusted for acquisitions, divestitures and currency fluctuations.  US billboard revenues increased by 3.6% but international billboard revenues were flat.  CFO Don Shassian attributed the improved revenue to increases in rates and the conversion of static boards to digital. […]

by billboardinsider· · Comments are Disabled · Finance

Landmark Owns 271 Outdoor sites

Landmark Infrastructure announced first quarter 2016 financials.  Landmark acquires real estate which is leased to the wireless, outdoor and renewable power industries. Revenues increased 25% to $7.8 million. EBIDTA totaled $3.9 million. Outdoor accounted for 271 (24%) of the firm’s 1,114 sites at March 31, 2016. The outdoor leases have quarterly revenue of $1.4 million which works out to monthly rent of $1,405 per site. The firm’s outdoor leases have an average remaining term of 13.3 years. During 2016 the […]

by billboardinsider· · Comments are Disabled · Finance

An Update on iHeart’s Debt Problems

Insider has previously reported on Clear Channel Outdoor’s parent company iHeartMedia and their attempts to resolve a dispute with one of their lending groups. iHeart has a May trial date set to try and block a group of lenders from declaring a default on more than $3 billion in loans. The Wall Street Journal reports this week that in documents published on Monday, that iHeart announced they had begun mediation with the lender and bondholder group “to try to resolve the […]

by John Weller· · Comments are Disabled · Finance

Clear Channel Outdoor Performs Better Than Expected

Clear Channel Outdoor Holdings released first quarter 2016 financials yesterday.  Here are the highlights. Total Revenues increased by 1.8% excluding foreign exchange effects and non-strategic asset sales.  North and South American revenues increased by 4%.   The company attributed the growth to higher revenue from digital billboards and higher occupancy rates. International revenues increased by 0.3% after excluding foreign exchange and non-strategic asset sales.   International revenues were hurt by the loss of a London bus shelter contract. Clear Channel […]

by billboardinsider· · Comments are Disabled · Finance

Clear Channel Outdoor Not Done Selling.

Insider expects to see more Clear Channel Outdoor asset sales.  Here’s what we’ve heard: Clear Channel Outdoor is trying to keep assets in the top 10 DMA’s:  New York, Los Angeles, Chicago, Philly, Dallas, San Francisco, Boston, Wash DC, Atlanta, Houston.  Everything else is for sale for a price.  Whether Clear Channel Outdoor can retain the crown jewels and still service $5 billion in Clear Channel Outdoor debt and $21 billion in iHeart Media debt remains to be seen. Lamar […]

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Yesco Outdoor Acquires Reagan Assets in Idaho and Montana

Yesco Outdoor Media has announced the  April 8 purchase of the billboard assets of Reagan National Advertising in Idaho and Montana.  Yesco acquired 80 Reagan faces in Idaho and 14 Reagan faces in Montana and currently has 378 faces in Idaho and 346 in Montana which makes Yesco the second largest outdoor company in each state.  The price was not disclosed. Kalil and Co was the investment banker on the transaction.  “This was a great deal for both sides,” comments […]

by billboardinsider· · Comments are Disabled · Finance

Outfront’s Male and Shassian Interviewed by REIT.com

Reit.com has an interview with Outfront Chairman and CEO Jeremy Male and CFO Donald Shassian.  Some of the highlights of the interview. Male says that out-of-home was a 2X GDP business from 1990-2015 with annual revenue growth of 4%/year or twice the 2%/year GDP growth rate.  Looks to Insider like the Outdoor industry is a GDP business (see table below where Insider compares US outdoor revenues with US GDP).  Outdoor revenues have grown by 4.1%/year since 1994 versus 4.3%/year growth […]

by billboardinsider· · Comments are Disabled · Finance

iHeart Has Trial Date On Debt Dispute

An update on iHeart Media/Clear Channel Outdoor debt issues.  The Wall Street Journal is reporting that iHeart has a May trial date set to block a group of lenders from declaring a default on more than $3 billion in loans. In the meantime, both sides have agreed to abide by a restraining order until the trial begins. Interestingly, the argument surrounds a transfer of shares that the lenders say are worth $1.241 billion and is not permitted under the terms of the […]

by John Weller· · Comments are Disabled · Finance

Jarred Saba on Buying Billboard Leases

There are several companies which want to buy outdoor advertising easements:  Landmark, Milepost Capital, Billboard Property Group and Lease Advisors.  Insider is skeptical about some of these companies but thinks it never hurts to talk to anyone any time. Lease Advisors was founded in 2008 and is the nation’s leading lease acquisition and consultancy firm providing services to landowners whose property is host to a billboard or cellular installation.  The company has offices in Los Angeles, San Diego, San Francisco, Melbourne, Toronto […]

by billboardinsider· · Comments are Disabled · Finance