Covid has temporarily put the brakes on the sale of Clear Channel Outdoor European assets according to Clear Channel Outdoor Worldwide CEO William Eccleshare. Here’s a selection of comments by Eccleshare, Americas CEO Scott Wells and CFO Brian Coleman at yesterdays’s Goldman Sachs Communicopia Conference. A selection of their comments. […]
Lamar CEO Sean Reilly said Lamar will resume capital expenditures and acquisitions in an appearance at the Goldman Sachs Communicopia Conference. On spending money again. The first thing is beginning to play a little offense…we are beginning to do that by freeing up some capexp dollars and some acquisition dollars…that’s […]
OUTFRONT is holding billboard pricing and resuming capital spending according to Jeremy Male. Here’s a selection of his comments at yesterday’s Goldman Sach’s Communacopia conference. Pricing We much prefer to maintain rate integrity…If we have an advertiser that’s paying $100, we’d much prefer to provide some incremental benefit, extra space […]
Yesterday Clear Channel Outdoor Holdings announced plans to reduce headcount in Europe and Latin America in response to the impact of covid on revenue. The company expects to achieve an annual pre tax cost saving of $20 million. Looks to Insider like this equates to 2% of total international expenses […]
Lamar Advertising will pay a cash dividend of $0.50/share on September 30, 2020. The dividend equates to a 2.96% yield on the stock down from the 4-6% dividend yield Lamar was paying prior to Covid. Lamar cut the dividend during Covid to conserve cash. Lamar’s dividend is running at 50% […]
Insider hears from readers that banks are tightening lending standards. This is important because many out of home companies use debt for acquisitions and to finance new sign construction and digital sign conversions. Data from the Federal Reserve July 2020 Senior Loan Officer Survey on Bank Lending shows that 70% […]
Correction 7:24 am pacific time: Insider’s initial story underestimated Insider ownership at Lamar by failing to take into account ownership of B shares and ownership by the Reilly Family Limited Trust. We have adjusted the Lamar insider ownership figures upward based on the Lamar 2019 definitive proxy statement. Clear Channel […]
BATON ROUGE, La., Aug. 17, 2020 (GLOBE NEWSWIRE) — Lamar Advertising Company (LAMR) announced today that it is seeking to raise approximately $150.0 million through an institutional private placement of additional 4% Senior Notes due 2030 (the “Notes”) by its wholly owned subsidiary, Lamar Media Corp (“Lamar Media”). The Notes […]
Last Friday OUTFRONT CFO Matt Siegal suggested that out of home multiples are lower. Five investment bankers tell insider that there hasn’t been a dramatic shift in multiples. Max Drachman, Kalil and Co I believe there are many executives that would agree with Matt on feeling an acquisition today would […]
OUTFRONT CFO Matt Siegel had a wide ranging conversation with Oppenheimer’s Ian Zaffino at this week’s Oppenheimer Tech, Internet and Communications Conference this week. Some of the highlights. How is OUTFRONT recovering from covid? We reacted quickly on the cost side and the capital side. We raised capital. We fortified […]
