Clear Channel Outdoor has launched a new campaign in response to the ongoing COVID-19 crisis – local businesses across the country have joined together in a campaign to help them remain open and offer essential products and services to the community – #OpenForBusiness. The initiative uses digital billboards throughout the […]
It’s proxy season. Insider reads these dreary documents so you don’t have to. Three things from Clear Channel Outdoor’s 2020 proxy statement. The board: 33% women and 89% outsiders. Women account for 33% or 3 of the company’s 9 board seats versus an average of 25% of board seats for […]
Insider wanted to break out Clear Channel Outdoor’s financial and liquidity update from their Press Release into a separate article as it provides guidance on CCO’s take of current economic conditions and their strategy over the short term. Here are those excerpts: The Company believes the anticipated net proceeds from […]
Here are press release excerpts from Clear Channel Outdoor confirming the sale of their share in Clear Media. Clear Channel Outdoor Holdings, Inc. (CCO) (the “Company”), one of the world’s largest outdoor advertising companies, today announced that it has entered into an agreement to irrevocably tender to sell its 50.91% […]
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 […]
“Be fearful when others are greedy and greedy when others are fearful.” – Warren Buffett Public out of home stocks have rallied this week but are down dramatically year-to-date. Here’s the data. Looks to Insider like the market has priced a 20% revenue decline and a 30-40% cashflow decline into […]
From Clear Channel Outdoor’s press release issued on March 25th: Clear Channel Outdoor Holdings, Inc. (CCO) (the “Company”), one of the world’s largest outdoor advertising companies, today announced it has drawn down $150 million available under its Revolving Credit Facility to increase liquidity and preserve financial flexibility. “The Americas segment continued to […]
New York, NY – Clear Channel Outdoor Americas (CCOA) (NYSE: CCO) today announced it will honor three global female leaders with a national digital out of home (DOOH) campaign timed with International Women’s Day: a day celebrating the social, economic, cultural and political achievements of women. In partnership with The […]
Lamar CEO Sean Reilly was entertaining as ever at Wednesday’s Morgan Stanley Tech, Media and Telecom Conference. Some of the highlights. On taking share from local TV and radio I think it’s the next shoe to drop. I’ve seen it in what has happened to print…Our fastest growing and largest […]
