Clear Channel Outdoor announced a “shareholder rights plan” on May 19: SAN ANTONIO, May 19, 2020 /PRNewswire/ — Clear Channel Outdoor Holdings, Inc. (CCO) (the “Company”) announced today that its board of directors (the “Board”) unanimously adopted a shareholder rights plan (the “Rights Plan”) to protect the interests of all Company […]
Here are the highlights from Jeremy Male’s comments at this week’s JP Morgan Global Technology, Media and Communications Conference. How this crisis differs from 2008-2009 In 2008 you were dealing in the falloff in macro that was impacting advertiser budgets. Here we’re dealing with the falloff in macro…but also its […]
NEW YORK, May 13, 2020 /PRNewswire/ — OUTFRONT Media Inc. (NYSE: OUT) today announced that two of its wholly-owned subsidiaries priced a private offering of $400.0 million in aggregate principal amount of 6.25% Senior Notes due 2025 (the “notes”). The notes are to be sold at an issue price of […]
OUTFRONT CEO Jeremy Male said that second quarter revenue will be down 50% as OUTFRONT’s urban and transit billboard plant is heavily impacted by stay at home orders. Here are the highlights of last Friday’s earnings call. On future revenues As we look at Q2 to date, we expect our […]
OUTFRONT’s first quarter was OK but there’s stormy weather ahead. Here are the results from OUTFRONT’s 2020 first quarter earnings release and earnings presentation. Revenues increased by 3.5% to $385 million due primarily to an increase in billboard revenue. Billboard revenues increased by 9% due to increased yields and digital […]
“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 […]
NEW YORK, April 20, 2020 /PRNewswire/ — OUTFRONT Media Inc. (NYSE: OUT) today announced that it, along with certain subsidiaries, entered into an amendment to the credit agreement governing its $500.0 million revolving credit facility due November 2024. The revolving credit portion of our senior credit facilities is subject to a […]
Last year Geopath formed a futures council to help Geopath and the out of home industry prepare for the future. In December 2019 Insider interviewed 4 members of the council: Scott Fiaschetti, Gina Stratford, Matthew Noll and Mike Buongiovanni). Today Insider talks with three more council members: Toni Short, Piper […]
NEW YORK, April 16, 2020 /PRNewswire/ — OUTFRONT Media Inc. (NYSE: OUT) today announced that affiliates of Providence Equity Partners LLC (“Providence”) have agreed to lead the purchase of $400 million in newly issued convertible preferred stock together with funds managed by Ares Management Corporation (“Ares”). “We recognized the value […]
To celebrate World Art Day this year, OUTFRONT Media joined forces with several artists to create messages of motivation, positivity, and unity to be shared on our digital out of home assets across the country. Our Uplifting America OUTFRAME Collaboration includes artwork from Shepard Fairey (contemporary street artist and graphic […]
