Three things about Lamar Advertising which Billboard Insider learned from reading the Lamar Advertising 2022 10k. Local, local, local. “Local advertising constituted approximately 78% of our outdoor net revenues for the year ended December 31, 2022 which management believes is higher than the industry average.” True indeed. OUTFRONT gets 55% […]
“We’re off to a good start and believe 2023 will be a positive year for the business, despite some uncertainties regarding the macro environment,” said Clear Channel CEO Scott Wells yesterday. Here are the results of the Clear Channel Outdoor 4Q 2022 earnings release, 4Q 2022 earnings presentation and conference […]
Hoya Capital published a decent out of home review titled Billboard Reits: We’re Paying Attention (Lamar Vs Outfront). Forward a copy to your banker. The article explains how out of home works and summarizes industry strengths (e.g. regulatory barriers to entry, digital billboard upside, attractive CPM versus other media, low […]
This slide from the recent Solomon Partners Media and Entertainment Summit Presentation caught Billboard Insider’s eye. It shows that public out of home companies are trading at a 9-14 times current cashflow (2022 EBIDTA). Billboard Insider’s take: Lamar has the highest valuation multiple because it has the longest weighted […]
We are sharing Clear Channel Outdoor’s efforts to celebrate Black History Month for 2023 with a new month-long digital campaign. CELEBRATING BLACK HISTORY MONTH: The People, The Places, The Moments 1875, Carter Woodson, known as the creator of Black History Month, is born in Virginia. 1936, Jesse Owens wins four […]
by Dan Levi, CMO of Clear Channel Outdoor If you’re like me, the holidays are a time to reflect on the year that was and consider what you might do to make the new year just a bit better, whether it’s for your loved ones, your friends or […]
Clear Channel stock is up 28% since Ares Management disclosed a 7% ownership position in the company on January 18, 2023. Ares Management is a publicly-traded investment fund which was formed in 1997 to make alternative investments. It has $341 billion in assets under management. Billboard Insider’s take: Ares is […]
Lamar and OUTFRONT outperformed the market during the fourth quarter of 2022 while Clear Channel Outdoor lagged. Lamar was up 14%, OUTFRONT was up 10%, the S&P 500 was up 7% and Clear Channel Outdoor declined 23%. Delays in the sale of Clear Channel Europe and concerns about how a […]
Three things about the $93 million Clear Channel Switzerland sale which was announced yesterday. The price is OK. The sale price of 9.75 times segment cashflow is OK. For a wide variety of out of home transactions, Billboard Insider assumes 10 times segment cashflow as an average price. More than […]
SAN ANTONIO, Dec. 22, 2022 /PRNewswire/ — Clear Channel Outdoor Holdings, Inc. (CCO) (the “Company”) today announced it has entered into a definitive agreement to sell its business in Switzerland to Goldbach Group AG, an affiliate of TX Group AG, for CHF 86.0 million, or US$ 92.7 million1. The Company’s Swiss business […]
