NEW YORK, April 16, 2020 /PRNewswire/ — OUTFRONT Media Inc. (NYSE: OUT) today announced that affiliates of Providence Equity Partners LLC (“Providence”) have agreed to lead the purchase of $400 million in newly issued convertible preferred stock together with funds managed by Ares Management Corporation (“Ares”). “We recognized the value […]
Since so many of us are aware of and focused on the SBA Payroll Protection Loan Program, Insider wants to continue to provide updates on what we are reading and hearing. Lapse in Appropriations – Yesterday came the news that the SBA is currently unable to accept new applications for […]
Insider heard back from three owner/operators after our article last week on the Payroll Protection Program application process. Ken Wingate Wingate Outdoor Advertising I had my PPP loan application completed on Monday of this week and it was funded by Wednesday. I used a local community bank and the loan […]
Boston Omaha (the parent of Link Media Outdoor) released its 2019 annual letter. It’s delightful to read an investment document in clear, straightforward jargon-free English. Contrast this jargon laden non-speak from one of the other public out of home companies “We seek to leverage our leadership position in technology and […]
Since our Monday update on the Payroll Protection Loan Program there have been several developments and trends on the SBA’s PPP loan program. Here are Insider’s thoughts as the program rolls out. There is a need for more money – With demand exploding for the PPP, the Senate went to […]
Goldman Sachs has a great powerpoint on Coronavirus and the US economy. Some of the highlights. The coronavirus will reduce US real GDP on an annualized basis by about 35% for the second quarter of 2020. US GDP will bounce back with annualized growth of about 15% in the […]
Friday was a day of confusion for most lenders as the SBA began releasing their operating procedures for the Payroll Protection Loan Program. As of Saturday morning Insider was able to get on a regional bank on-line application, complete and download a request for a PPP loan. A search of […]
Baton Rouge, LA – April 2, 2020 – Lamar Advertising Company (“Lamar”) (Nasdaq: LAMR), a leading operator of outdoor advertising and logo sign displays, today announced that it has withdrawn its full-year financial guidance for 2020 in light of the significant macroeconomic uncertainty resulting from the coronavirus pandemic. “We began […]
First quarter was a tough for stocks and even worse for out of home. The S&P 500 fell by 20% – the worst first quarter in history. Lamar declined 43%, Outfront declined 50% and Clear Channel declined 78% although all three companies have rallied from their lows last week. US […]
Two interesting new items from JCDecaux. First in a press release on the 25th, JCDecaux announced the withdrawal of its 2019 dividend proposal in order to strengthen its liquidity, its balance sheet in response to the unprecedented global disruption due to the Covid-19 outbreak. Jean-François Decaux, Chairman of the Executive […]
