Yes, iHeart Media did recently come off a victory in the Texas courts over a group of creditors. That does not mean their troubles are over. Gamco Asset Management owns nearly 10% of the stock in Clear Channel Outdoor Holdings not held by iHeartMedia. Gamco is suing iHeart for improperly […]
Tag: Clear Channel Outdoor
Are Clear Channel’s Orlando Assets Next For Lamar?
What’s next for Clear Channel Outdoor and Lamar? Insider has heard rumors that Lamar may be interested in Clear Channel’s Orlando/Ocala/Melbourne cluster. Makes sense for a couple reasons: Lamar bought Florida’s Beech Outdoor in April 2015 and the Clear Channel Florida assets would complement the Beech assets. Lamar has $890 […]
iHeartMedia Wins Lawsuit
iHeartMedia, Inc. won its lawsuit blocking notices of default from several of its creditors. The verdict on Tuesday from state District Judge Cathleen Stryker permanently blocks bondholders unhappy over a recent transfer of assets within the radio, billboard and digital company from filing default notices against the company in connection […]
Is iHeart Making Progress With Creditor Group?
Insider has written about Clear Channel Outdoor’s parent company, iHeart Media, and their debt woes. Their trial in Texas with a group of creditors began this week . We had previously mentioned that iHeart was trying to find a mediated settlement up to the date of the trial. At issue is […]
Clear Channel Outdoor’s Seven Kingdoms
Insider hears that Clear Channel Outdoor has shuffled into 7 regions to be able to facilitate additional asset sales. Each region is run a Regional President. The 7 Regional Presidents report to EVP Gene Leehan who reports to CEO Scott Wells. Here’s who’s who and what they do. You can […]
An Update on iHeart’s Debt Problems
Insider has previously reported on Clear Channel Outdoor’s parent company iHeartMedia and their attempts to resolve a dispute with one of their lending groups. iHeart has a May trial date set to try and block a group of lenders from declaring a default on more than $3 billion in loans. […]
Clear Channel Outdoor Performs Better Than Expected
Clear Channel Outdoor Holdings released first quarter 2016 financials yesterday. Here are the highlights. Total Revenues increased by 1.8% excluding foreign exchange effects and non-strategic asset sales. North and South American revenues increased by 4%. The company attributed the growth to higher revenue from digital billboards and higher occupancy […]
Clear Channel Outdoor Not Done Selling.
Insider expects to see more Clear Channel Outdoor asset sales. Here’s what we’ve heard: Clear Channel Outdoor is trying to keep assets in the top 10 DMA’s: New York, Los Angeles, Chicago, Philly, Dallas, San Francisco, Boston, Wash DC, Atlanta, Houston. Everything else is for sale for a price. Whether […]
Clear Channel Outdoor Should Exit The Fabrication Business
Did you know that Clear Channel owns a steel fabrication company? Here’s quote from the company’s 10k: We typically own the physical structures on which our clients’ advertising copy is displayed. We build some of the structures at our billboard fabrication business in Illinois and erect them on sites we […]
Josh Kruter Leaves Clear Channel Outdoor
Insider has heard from two sources that Josh Kruter, Clear Channel Outdoor SVP for digital products, left the company for a job at a tech company. Kruter supervised the digital product portfolio for Clear Channel outdoor and worked on the company’s Radar project. Clear Channel Outdoor General Counsel Craig Gangi […]
