Last week Standard Outdoor, a subsidiary of Standard Diversified, purchased the remaining Fairway Outdoor assets. Looks to Insider like Standard Outdoor itself is for sale. This paragraph is tucked into a November 18, 2019 Standard Diversified press release announcing a merger and reorganization. Emphasis ours. Prior to the consummation of […]
Fairway Outdoor has closed on the sale of its remaining markets in Kentucky and the Southeastern United States (Georgia, Alabama, Florida, Louisiana) to Standard Outdoor. The transaction is estimated at $40-45 million for approx 2,600 bulletins, 750 posters and 30 digitals. The sale marks private equity firm GTCR’s exit from […]
On Friday Clear Channel Outdoor announced that it was “conducting a preliminary strategic review” of its 50.9% state in Clear Media, the Chinese out of home company. That’s investment banker speak for “let’s look into selling our Chinese operations.” Clear Media Business Clear Media operates a bus shelter advertising network […]
US Out of home revenues have outpaced the US economy for four straight quarters as you can see in the chart below. In the third quarter of 2019 out of home revenues grew almost twice as fast as the US economy. What accounts for the increase? A transfer of ad […]
Landmark has shifted from lease and easement purchases to higher return, higher growth development initiatives. Here are the results from the third quarter 2019 earnings release and earnings call. Revenue declined by by $3.1 million (17%) to $14.4 million for the three months ended September 30, 2019 due to the […]
This week OUTFRONT Media issued $500 million of 4.625% senior notes to retire $450 million of 5.875% notes. Insider thought you might want to see how this note issue stacks up with the senior debt of the other public out of home companies. As you can see from the debt […]
OUTFRONT announced this week that two of its wholly-owned subsidiaries priced a private offering of $500.0 million in aggregate principal amount of 4.625% Senior Notes due 2030 (the “notes”). The notes are to be sold at an issue price of 100.0% of the principal amount. The offering is expected to […]
Metro Phoenix Bank (OTCPink: MPHX) (“MPB”) announced a sizable credit facility to Greyline Outdoor Advertising, further solidifying itself as a national leader in outdoor media lending. Greyline Outdoor Advertising (www.greylineoutdoor.com), is the 2nd largest outdoor advertising company in the greater Western New York region and is now expanding into New York City. Their […]
Clear Channel Outdoor had a great 3rd quarter 2019 in the US but struggled internationally. Here’s a summary of comments from the company’s senior execs on the 3rd quarter 2019 earnings call. William Eccleshare, CEO, Clear Channel Outdoor Holdings on the China subsidiary’s 19% drop in revenue In the International […]
China problems dragged down Clear Channel Outdoor’s performance during the third quarter of 2019. Here are the results from the earnings release and investor deck. Insider is focusing on the results excluding effects of foreign exchange. Consolidated revenue increased by 0.7% to $668 million during the third quarter of 2019. […]
