Insider has reported frequently on iHeart Media’s debt problems as they own 90 percent of the equity of publicly traded Clear Channel Outdoor Holdings, the nation’s largest billboard company. Mario Gabelli’s Gamco Asset Management owns 10 percent of the publicly traded shares. Gamco has not been happy with iHeart, owned […]
Finance
Billboards Having Success as REIT’s
ThinkAdvisor notes the success of Specialty REITs, which own properties as diverse as farmland, document storage and outdoor ad space. Trepp Inc., an information provider for real estate and banking, notes that REITs in this category have posted a 31.44% total return year to date, and a 5.45% dividend yield, the […]
Oliverio says outdoor values are 9-12X cashflow.
Insider talked with Gabe Oliverio of outdoor investment banking firm Johnsen Fretty about outdoor values. Sounds to Insider like now is a good time to sell your company. Insider is seeing values of 5-6 times run rate revenue and 8-12 times run rate cashflow in the outdoor advertising market. What’s […]
Outdoor Advertising Values June 2016
The four public outdoor companies were valued at 3.7 times gross revenue and 13.2 times cashflow at June 30, 2016 according the the Yahoo Finance pages for Clear Channel Outdoor, Outfront, Lamar and JCDecaux. Lamar leads the group at a valuation of 6.4 times revenue and 15.3 times cashflow. Insider […]
iHeart, Some Lenders at Impasse
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 […]
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 […]
