Here are two tables, prepared by Moorgate Capital Partners, which calculate the weighted average cost of debt and leverage (net debt/adjusted cashflow) for the public out of home companies as of December 2023. Some observations: No surprise that the cost of debt goes up as leverage goes up. Clear Channel […]
OUTFRONT and Lamar Advertising outpaced the market during the first quarter of 2024. OUTFRONT was up 20% for the first quarter on news that revenues are finally rebounding from covid and low to mid single digit revenue guidance for 2024. Lamar Advertising rose 12% versus a 10% rise in the […]
Here are four things Billboard Insider learned from reading Clear Channel Outdoor’s 2023 10k. Cash goes to interest. Cash interest on debt totaled $404 million in 2023 compared to cashflow (EBIDTA) of $423 million. With interest expense equal to cashflow, Clear Channel Outdoor has little money to spend on acquisitions […]
Clear Channel issued a press release confirming details on a new term loan debt facility through their wholly owned subsidiary, Clear Channel International B.V. (“CCIBV”). CCIBV closed on the agreement on March 22nd with J.P. Morgan Chase Bank as the agent on the loan facility. Proceeds of the CCIBV Term […]
European and Latin American sales are moving along but don’t hold your breath over the sale of Clear Channel Outdoor US assets. Here are the highlights from Clear Channel Outdoor CEO Scott Wells comments at yesterday’s Morgan Stanley Media and Telecom conference. Out of home better positioned today than 5 […]
Airports and Europe-North drove a good fourth quarter for Clear Channel Outdoor. Here are the results of the Clear Channel Outdoor 4Q 2024 earnings release, Clear Channel Outdoor 4Q 2024 Investor Deck and conference call. Revenue increased 12% to $632 million due to increases in airports and Europe-North. Airports revenue […]
On January 31, 2024, Clear Channel Outdoor signed a Cooperation Agreement with activist investor and 5.1% shareholder Legion Partners in which it agreed to give a board seat to Legion’s Ted White . Here are the other terms of the agreement White is added to the company’s board immediately with […]
SAN ANTONIO, Feb. 1, 2024 /PRNewswire/ — Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) today announced the appointment of Ted White to its Board of Directors (the “Board”) as part of the Company’s Cooperation Agreement with Legion Partners Asset Management, LLC (together with its affiliates, “Legion”). Mr. White will immediately join the Board […]
New York, NY – Clear Channel Outdoor (NYSE: CCO), one of the world’s largest out of home (OOH) media providers, and Big Brothers Sisters of America (BBBSA), the preeminent one-to-one youth mentoring organization in the United States, today announced the launch of a nationwide digital out-of-home (DOOH) media campaign timed […]
The San Jose Spotlight reported that Outfront Media won a lawsuit against the city of San Jose after contending that San Jose did not follow proper procedure when they bid out the construction of two digital billboards south of Highway 101 on San Jose Mineta International Airport property. That bid wws […]
