Political advertising season is in full swing. Here’s what Billboard Insider heard about about political advertising in this month’s earnings calls and investor meetings. OAAA President and CEO Anna Bager says out of home is trusted and can help get out the vote (May 23, 2024 Beet.tv interview). We think […]
Here are the highlights of Clear Channel CFO David Sailer’s comments at this week’s 52nd annual JP Morgan 2024 Global Technology, Media and Communications Conference. Clear Channel Outdoor adding account executives Coming out of COVID we were obviously you know very tough on expenses you know revenue was down and […]
North American billboards are decent, airports is booming and Europe North is recovering and for sale is how you could summarize Clear Channel Outdoor’s 2024 first quarter. Here are the results of the Clear Channel Outdoor 1Q 2024 earnings release, earnings presentation and conference call. Consolidated revenue increased 10% to […]
May kicks off Asian American and Pacific Islander (AAPI) Heritage Month, which celebrates the contributions that generations of AAPIs have made to American history, society, and culture. One of the fastest-growing groups of people in the U.S., our country’s community of AAPIs contains multitudes, made up of 24 million Americans, […]
Here’s a list of the non-executive board directors for Lamar, OUTFRONT and Clear Channel Outdoor. Clear Channel Outdoor and OUTFRONT pay more to directors than Lamar. Two Clear Channel directors (Jinhy Yoon and Ted White) work for free. Yoon is a credit analyst at Pimco Investment Management and is barred […]
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 […]
