iHeartMedia has reached an impasse on talks with some of its creditors. Since winning a court judgement in May, the broadcaster has been trying to reach an agreement on how to restructure some $21 billion in debt. The company has told the Securities and Exchange Commission its assessing whether to […]
Finance
The 7 Things Your Lender Wants To Review
Insider has been financing outdoor companies for 20 years. Here’s the information you should put together before you approach a lender. By having the information already assembled you will look professional and competent. The most important items are listed first. Income Statement and Balance Sheet for your outdoor company […]
What The Market Thinks of the Big Four Outdoor Companies
Insider thought you might want to see what the stock market thinks of the Big 4 Outdoor companies: Lamar, Outfront, Clear Channel and JCDecaux. The chart below comes from investment banker Mark Boidman’s presentation titled OOH and M&A. The Chart demonstrates that the stock market values Lamar at 13.1 times […]
Wright and Smith on Billboard Valuation
The International Right of Way Association had an educational session on billboard appraisal methodologies and case law on June 14, 2016, as part of its 62nd International Conference. The presenters were J. Allen Smith of the SettlePou law firm who is chair of OAAA’s billboard valuation subcommittee, and Paul Wright of […]
Outdoor Trades At Higher Multiple Than Most Other Media
Outdoor is trading at a higher multiple than most other forms of media. This chart from investment banker Mark Boidman’s presentation at this months’s FEPE convention titled OOH and M&A shows that public outdoor advertising companies are valued at an average of 11.7 times cashflow which is well above TV, […]
IRS Eliminates REIT Loophole
The Wall Street Journal reports that the Internal Revenue Service has shut down an apparent gap in a tax law that otherwise could have allowed companies across industries to continue spinning off their property holdings into tax-advantaged real-estate investment trusts. The December law was written in response to a wave of […]
US Outdoor Revenues growing faster than US Economy
US Outdoor revenues grew 3.3% during the first quarter of 2016 according to the the May 19, 2016 OAAA press release. Outdoor revenues have outpaced the US economy for the last four quarters as you can see in the chart below. US Outdoor Revenue Growth Versus US Quarterly Seasonally Adjusted […]
Daktronics Down in Fourth Quarter 2016
Digital Billboard Maker Daktronics had a dissappointing fourth quarter. Here are the highlights from the company’s earnings release and the Seeking Alpha earnings transcript. Revenues for the three months ended April 30, 2016 declined by 12% to $138 million and the company had a net loss of $2.9 million for […]
iHeart Media Being Sued By A Minority Investor
Yes, iHeart Media did recently come off a victory in the Texas courts over a group of creditors. That does not mean their troubles are over. Gamco Asset Management owns nearly 10% of the stock in Clear Channel Outdoor Holdings not held by iHeartMedia. Gamco is suing iHeart for improperly […]
Are Clear Channel’s Orlando Assets Next For Lamar?
What’s next for Clear Channel Outdoor and Lamar? Insider has heard rumors that Lamar may be interested in Clear Channel’s Orlando/Ocala/Melbourne cluster. Makes sense for a couple reasons: Lamar bought Florida’s Beech Outdoor in April 2015 and the Clear Channel Florida assets would complement the Beech assets. Lamar has $890 […]
