Here’s what Clear Channel Outdoor executives said about expense cuts, selling Latin America or Europe and the future on yesterday’s first quarter 2020 earnings call. Worldwide CEO William Eccleshare on Expense Cuts We are targeting over a $100 million reduction in operating costs in Q2 and at least $25 million […]
Clear Channel Outdoor announced first quarter 2020 financials yesterday. Consolidated revenue was down 6% as increased revenues in the US were offset by declining revenues in Europe and China. Cashflow declined 46% due to losses in Europe and China as well as increased corporate overhead. Here’s a summary of the […]
SAN ANTONIO, April 28, 2020 /PRNewswire/ — Clear Channel OutdoorHoldings, Inc. (NYSE: CCO) (the “Company”), today announced that Clear Channel KNR Neth Antilles N.C., an indirect wholly owned subsidiary of the Company, has tendered its shares representing the Company’s 50.91% stake in Clear Media Limited (“Clear Media”), an indirect, non-wholly owned […]
“Sunlight is the best disinfectant.” William O. Douglas. Two tables below. The first table shows the 2019 stock performance of OUTFRONT (up 47%), Lamar (up 29%), the S&P 500 (up 29%) and Clear Channel Outdoor (down 43%). The second table shows the 2019 compensation of Lamar, OUTFRONT and Clear Channel […]
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 […]
