Clear Channel Outdoor’s strong second quarter in the US was hurt by weak results overseas. Here are the highlights from the company’s second quarter earnings release and conference call. Consolidated revenue increased by 1.1% to $719 million during the second quarter of 2019 when adjusted for FX movements. A 9.1% […]
This week’s podcast guest Jim Matalone talks about starting, running and selling Ashby St Outdoor, an out of home company with 1,908 faces in Arkansas, Kansas, Oklahoma and Missouri. Talk about the formation of Ashby Street in 2011. Before Ashby St I had been running Next Media Outdoor which was […]
Clear Channel Outdoor priced its 100 million share stock offering at $3.50 last Friday. That means it will raise $400 million if underwriters exercise their shares. Insider learned three things about Clear Channel Outdoor from the Prospectus. Billboards in the US, Street Furniture abroad. Billboards account for 61% of Americas […]
Everyone wants a billboard to promote their Emmy chances says Hollywood Reporter. Good news for Clear Channel Outdoor, OUTFRONT Media, Ace Outdoor and the other Sunset Strip and LA operators. Space on the Sunset Strip is now worth $75,000-150,000 for 4 weeks. Hold the Hype on autonomous cars says the […]
SAN ANTONIO, July 22, 2019 /PRNewswire/ — Clear Channel Outdoor Holdings, Inc. (CCO) (“Clear Channel Outdoor”), one of the world’s largest outdoor advertising companies, today announced that it has commenced an underwritten public offering (the “Offering”) of its common stock. Clear Channel Outdoor is proposing to sell 100 million shares of common stock […]
Yesterday, PJ Solomon published a calculation of the value of the public out of home companies as a multiple of estimated 2019 cashflow. The public out of home companies are trading at 11 times 2019 estimated cashflow. Focus Media (a chinese out of home company which trades on the Shenzhen […]
Seeking Alpha reports that Wolfe Research’s Marci Ryvicker has downgraded Clear Channel Outdoor from Outperform to Sector Perform, saying a potential asset sale “is likely to take more time than we had anticipated.” Insider’s take: Debt/cashflow is 8.0. A sustainable level of debt/cashflow is 4.0. Internal cashflow growth won’t be […]
Over the past few years, OOH has been the only “traditional” ad format to experience steady growth. This grow this due in part to the rise of digital OOH (DOOH) media, and in part to the advent of better audience identification and targeting tools available to the sector. The rate […]
By Rainbow Kirby, Clear Channel Outdoor. Reprinted with permission from the Clear Channel Outdoor Blog. All they do is WIN, WIN, WIN. Of course, we’re referring to the U.S. Women’s National Soccer Team. Throughout their journey in the 2019 World Cup, powerful imagery of the team clad in bright red […]
Insider was asked about Out of Home values. Insider has seen average values of 4-6 times billboard revenue and 8-14 times billboard cashflow during a 30 year career lending to Out of Home. The three US public Out of Home advertising companies had a mean gross value of 5.1 times […]
