• Clear Channel Sells Columbus To Lamar

    Zacks reports that Clear Channel Outdoor has sold its Columbus analog and digital billboards to Lamar.  the transaction follows a January 2016 $458 million sale of 5,500 bulletins and 132 digital displays to Lamar.  No price was disclosed.

    Screen Shot 2016-03-09 at 12.58.02 PMInsider expect to see more asset sales from Clear Channel Outdoor.  Clear Channel Outdoor is overleveraged.  The creditors of IHeart Media, Clear Channel Outdoor’s parent, allege that Iheart is in default of credit agreements.  Bloomberg suggests that it is simply a matter of time until IHeart Media files for banruptcy.  Insider expects that IHeart will pressure Clear Channel Outdoor for distributions in order to pay off debt.

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