Clear Channel Outdoor Holdings, Inc.(CCO)- NYSE
  • Mon, Jun. 27, 5:52 PM
    • Clear Channel Outdoor Americas (CCO -1.6%) says its airports division has signed a 10-year deal to launch a comprehensive digital ad network at Minneapolis-St. Paul airport.
    • The contract begins July 1. That makes Clear Channel Airports the first media company in 13 years to offer terminal-wide ad solutions for customers there.
    • Included in the network are "marquee digital assets, large format inventory, marketing and sponsorship opportunities and specialty exhibits."
    • Clear Channel says the airport deal makes it the premier out-of-home media provider in the Twin Cities area.
    | Mon, Jun. 27, 5:52 PM
  • Wed, May 4, 12:11 PM
    • Clear Channel Outdoor Holdings (NYSE:CCO) has given back large gains out of the open, but is still up 4.8% after posting Q1 results where it swung to profit again with the help of non-strategic asset sales.
    • The company logged net income of $141M (vs. a year-ago loss of $33M), and had taken a $282M gain tied to sales in nine markets at the beginning of the year.
    • Revenues by segment: Americas, $282.5M (down 4.5%); International, $308.2M (down 3.4%).
    • OIBDAN declined 5.1% in the Americas segment, to $89.2M, but increased fractionally in International, to $31M.
    • Press Release
    | Wed, May 4, 12:11 PM
  • Fri, Mar. 11, 11:39 AM
    • Clear Channel Outdoor Holdings (CCO +2.4%) has won the premier display advertising slot for airports in Washington, D.C., giving it heavy access to a heavily trafficked transit stop.
    • The company's Clear Channel Airports unit won an eight-year deal to serve Washington Dulles International Airport and Ronald Reagan Washington National Airport from the Metropolitan Washington Airports Authority.
    • The deal has a two-year option and further establishes CCO in the out-of-home media market in D.C.
    • Displays in the airports will help CCO reach 41M travelers a year; its digital portfolio reaches 50% of the D.C. market, accounting for 8.5M impressions per week, with nearly 3,000 displays covering the market.
    | Fri, Mar. 11, 11:39 AM
  • Wed, Mar. 9, 6:41 PM
    • IHeartMedia (OTCPK:IHRT +4.6%) has won a temporary restraining order rescinding certain notices of default it received from senior creditors who objected to a stock transfer.
    • Claiming that covenants were violated, creditors had filed the notices of default after IHeart gave one unrestricted subsidiary, Broader Media, a stake of $516M of common stock in another unit, Clear Channel Outdoor Holdings (CCO -4.5%).
    • The restraining order expires in 14 days, according to IHeart's 8-K, though the court may extend it for 14 days beyond that.
    • IHeart says it agreed not to do anything with the shares until another hearing can be held.
    • Previously: Moody's: Default notice won't change iHeartMedia ratings (Mar. 08 2016)
    • Previously: IHeartMedia files suit after receiving default notices (Mar. 08 2016)
    | Wed, Mar. 9, 6:41 PM
  • Tue, Mar. 8, 12:27 PM
    • IHeartMedia (OTCPK:IHRT +8.1%) has filed suit to contest notices of default received tied to a share transfer at its subsidiary Clear Channel Outdoor Holdings (CCO -1.4%).
    • The company gave an unrestricted subsidiary, Broader Media, $516M of common stock in Clear Channel Outdoor in early December -- a move that could help sell a new bond for a company struggling to tamp down some $20.6B in debt. But bondholders have objected that covenants were violated by the transfer.
    • The creditors filing represent at least 25% of outstanding principal for four of IHeart's priority guarantee notes.
    • IHeartMedia has lost money every year since it last posted net income, of $938.5M in 2007.
    | Tue, Mar. 8, 12:27 PM | 1 Comment
  • Mon, Feb. 29, 7:13 PM
    • Clear Channel Outdoor Americas (CCO +1.7%) has launched its "Radar" product that offers "geo-fenced" billboards with mobile location data, allowing it to track travel patterns and behaviors of people via their mobile phones.
    • The company's using "aggregate and anonymous" mobile consumer data initially from AT&T Data Patterns, Placed and PlaceIQ, and hopes to help its advertisers get better campaigns with much more detailed information about the people passing by its billboards, including average age and gender of people near the billboard, and whether they then visit a store.
    • Tom's Shoes is the strategy's first test brand, partnering with Clear Channel on its out-of-home ad campaigns. The company is offering Radar in its top 11 markets today and plans to roll it out around the country later in 2016.
    • Meanwhile, the news has alarmed Sen. Al Franken (ranking member and former chairman of the Privacy & Technology subcommittee), who's requesting details from the company about how the info is randomized, whether it's retained, and a list of outside parties sharing info with Clear Channel.
    | Mon, Feb. 29, 7:13 PM
  • Wed, Feb. 17, 1:27 PM
    • Disappointed with capital structure issues at iHeartMedia (OTCPK:IHRT), Topeka Capital's David Miller has downgraded Clear Channel Outdoor Holdings (CCO +2.8%) to Sell from a previous Buy recommendation.
    • Shares in CCO have tumbled 59% over the past six months, though Miller has slashed the price target further, to $2 from his previous $11; that's 45% below today's price of $3.63.
    • Only 400 radio towers were sold by CCO's parent iHeartMedia vs. an expected 1,000, he notes, and a deal to sell a European billboard business for $3B fell apart.
    • IHeartMedia is facing a leverage issue, Miller notes, with $197M in maturities coming due in December, and $8.3B in senior secured debt coming due in 2019.
    | Wed, Feb. 17, 1:27 PM
  • Fri, Jan. 8, 3:48 PM
    | Fri, Jan. 8, 3:48 PM
  • Thu, Jan. 7, 1:03 PM
    • After vaulting toward the close yesterday over a report that it was discussing selling nearly $1B in billboard assets, Clear Channel Outdoor Holdings (NYSE:CCO) has given it back and then some, down 8.3% today.
    • The company says it's closed a sale of five "non-strategic" outdoor markets to Lamar Advertising (NASDAQ:LAMR), for $458.5M in a pair of transactions.
    • One transaction covers Reno, Nev.; Des Moines, Iowa; and Seattle. Those markets generated $40.9M in net revenues (trailing 12 months). The other covers Cleveland and Memphis, Tenn.; those markets generated $35.6M in net revenues. The $458.5M deal price is a blended multiple of 12.5 times the five markets.
    • The company didn't state a use for proceeds, though it's expected they could go toward the $20B debt load of parent iHeartMedia (OTCPK:IHRT -5.5%).
    | Thu, Jan. 7, 1:03 PM
  • Wed, Jan. 6, 3:55 PM
    • Clear Channel Outdoor Holdings (NYSE:CCO) has jumped 15.3% in the closing minutes as Reuters reports Lamar Advertising (NASDAQ:LAMR) is in advanced talks to buy a set of billboard assets for nearly half a billion dollars.
    • Lamar is nearing a deal to buy CCO's billboard assets in Cleveland; Des Moines, Iowa; Memphis, Tenn.; Reno, Nev.; and Seattle, sources said, though talks aren't final. The holdings could draw about $450M.
    • One source adds CCO plans to sell a different $350M-$400M of billboard assets elsewhere to private buyers such as Total Outdoor and Reagan Outdoor.
    • Proceeds would help CCO's parent iHeartMedia (OTCPK:IHRT) with some $20.6B in debt.
    | Wed, Jan. 6, 3:55 PM
  • Nov. 9, 2015, 5:22 PM
    • Clear Channel Outdoor Holdings (CCO -4.8%) is looking at the sale of U.S. billboard assets that might collectively come to $800M, Reuters reports.
    • The company has hired Moelis & Co. to advise it on a sale, sources said. The assets in question reportedly generate annual EBITDA of $60M-$70M.
    • Buyers could include rivals like Outfront Media (NYSE:OUT), Lamar Advertising (NASDAQ:LAMR), GTCR and JCDecaux. Clear Channel could divest holdings in a variety of regions, which could include Las Vegas, Seattle, Portland, and Bentonville and Fort Smith, Ark.
    • About 88% of Clear Channel Outdoor is held by iHeartMedia (OTCPK:IHRT -10%).
    | Nov. 9, 2015, 5:22 PM
  • Apr. 16, 2014, 3:15 PM
    • A favorable IRS private letter ruling for CBS Outdoor (CBSO +6.1%) is giving the outdoor advertising sector an afternoon lift. The IRS set the table for CBS Outdoor to convert itself to a REIT.
    • Advancers: Clear Channel Outdoor (CCO) +3.1%, AirMedia Group (AMCN) +3.0%, Lamar Advertising (LAMR) +5.6%.
    | Apr. 16, 2014, 3:15 PM
  • May 8, 2013, 3:06 PM
    Clear Channel Outdoor (CCO +4.7%) spikes higher after Canyon Partners' Mitch Julis mentions the company at the Ira Sohn conference in a positive light. The bull thesis in a nutshell: Billboards lead to dividends.
    | May 8, 2013, 3:06 PM
  • Mar. 20, 2012, 3:11 PM

    Clear Channel Outdoor (CCO +1.6%) gains after Caris upgraded the stock earlier today to Above Average on valuation. The firm lowers its price target however, to $11 from $12.

    | Mar. 20, 2012, 3:11 PM
  • Mar. 1, 2012, 8:16 AM

    Clear Channel Outdoor (CCO) +13.4% premarket after announcing plans to raise ~$2.2B in debt to pay for a $6.08/share one-time dividend. Proceeds will go toward paying a dividend to shareholders, including Clear Channel Holdings, which owns an 89% stake and will use the money to pay back secured debt that comes due in 2014.

    | Mar. 1, 2012, 8:16 AM
  • Nov. 1, 2011, 11:03 AM

    Billboard advertising provider Clear Channel Outdoor (CCO) is down 9.6% after reporting Q3 revenue of $748.4M (+8% Y/Y) and EPS of $0.01. The former beat by $18.4M, but the latter missed by $0.04, as the 8% operating expense growth for the company's Americas division easily outpaced the division's 4% revenue growth. (transcript)

    | Nov. 1, 2011, 11:03 AM
Company Description
Clear Channel Outdoor Holdings, Inc. operates as an outdoor advertising company, which clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars, which it owns or operates... More
Sector: Services
Industry: Marketing Services
Country: United States