Businesswire has announced that the Metropolitan Washington Airports Authority has awarded Clear Channel Outdoor a contract to provide advertising at DC’s Washington Dulles and Reagan National airports. Here are the highlights: An 8 term contract term with one 2 year option to extend. 4 digital sign networks, 75 HD screens and 3 large format screens at Washington Dulles Airport. 6 digital sign networks, 49 HD screens and three 21′ digital screens at Reagan National Airport. Clear Channel Airports, a division […]
Microcap reports that Clear Channel Outdoor Scott Wells bought 5,000 shares of Clear Channel Outdoor on March 4. With the purchase Wells directly owns 50,283 shares of stock valued at $209,000. Insider’s take: If Insider were a Clear Channel Outdoor shareholder, he’d be happy that an insider is buying. A $209,000 direct equity stake isn’t much, however for a CEO of a public company. Insider bets that most of you have more than this invested in your business if it’s […]
Alaska doesn’t allow billboards so Insider had a laugh today when he read a story in Hilltop News saying that the Alaska Department of Revenue owned 37,610 shares of Lamar worth $2.25 million at December 2015. Alaska increased the number of Lamar shares it owned by 4.4% during the fourth quarter. We don’t allow billboards but it’s a great business with great returns and we want to be invested in the sector. Sort of like a an anti-GMO person taking […]
Insider has heard from multiple sources that Fairway Outdoor is trading Atlanta outdoor assets and some cash to Clear Channel Outdoor for Clear Channel’s Indianapolis plant. The Clear Channel Office in Indianapolis still answers the phone as Clear Channel Outdoor.
Zacks reports that Clear Channel Outdoor has sold its Columbus analog and digital billboards to Lamar. the transaction follows a January 2016 $458 million sale of 5,500 bulletins and 132 digital displays to Lamar. No price was disclosed. Insider expect to see more asset sales from Clear Channel Outdoor. Clear Channel Outdoor is overleveraged. The creditors of IHeart Media, Clear Channel Outdoor’s parent, allege that Iheart is in default of credit agreements. Bloomberg suggests that it is simply a matter […]
US outdoor revenue has recovered from the great recession and reached a new high according to the OAAA. A couple things stand out from the March 2016 OAAA revenue release. US outdoor revenues grew at a robust 5.8% rate during the fourth quarter to finish up 4.6% to $7.3 billion for the year. This was impressive versus US GDP growth of only 2.4% for the year. The top 10 outdoor advertisers for 2015 were (in order of importance): McDonalds […]
Max Drachman is an outdoor advertising investment banker with Kalil and Co. Drachman talked with us earlier this month about outdoor values and trends in the transaction market. What trends did you see in the transactions market in late 2015. From our perspective, the end of 2015 was consistent with what we saw throughout the calendar year, which was very strong for Outdoor M&A. Multiples were still ranging between 8x-14x BCF (Billboard Cash Flow). We see those multiples tied closer […]