Clear Channel Outdoor Not Done Selling.

clear channel outdoorInsider 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 is keeping its powder dry for more Clear Channel acquisitions.  All small and tuck-in transactions have been put on hold.
  • The sticky wicket on Clear Channel Outdoor sales may be price.  Clear Channel is intent on getting 12.5 times cashflow at sale.  Perhaps the price will fall as the financial situation worsens.

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