Welcome to our dedicated page for Clear Channel Outdoor Holdings news (Ticker: CCO), a resource for investors and traders seeking the latest updates and insights on Clear Channel Outdoor Holdings stock.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is a leading global player in the outdoor advertising industry, operating in over 30 countries across North America, Latin America, Europe, and Asia. The company boasts a robust presence in 43 of the top 50 U.S. markets, and its expanding digital platform includes more than 1,200 digital billboards across 28 U.S. markets. Clear Channel Outdoor helps advertisers craft impactful out-of-home campaigns using both traditional and digital formats in various environments such as roadside, urban, transit, airport, street furniture, and retail near the point of sale.
The company enables brands to engage with mobile consumers, integrating out-of-home advertising with mobile and social media to boost customer engagement and drive purchases. By leveraging its extensive portfolio of over 330,000 print and digital displays in 19 countries (excluding businesses held for sale), Clear Channel Outdoor connects advertisers with millions of consumers monthly.
Recent Achievements:
- Clear Channel Outdoor reported fourth-quarter consolidated revenue of $632.1 million, a 12.4% increase year-over-year, driven by strong performance in the Airports and Europe-North segments.
- The company sold its businesses in Switzerland, Italy, and Spain, generating $153.5 million in aggregate proceeds. These sales, reflecting the company's strategic focus on higher-margin U.S. markets, are part of an ongoing process to optimize its portfolio.
- Clear Channel Outdoor recently refinanced a significant portion of its debt, extending maturities and improving financial flexibility. This includes a new term loan facility and the issuance of $865 million in senior secured notes due 2030.
Financial Condition & Current Projects: The company continues to strengthen its balance sheet, with $193.2 million in cash and a clear focus on reducing leverage. As part of its strategic roadmap, Clear Channel Outdoor is enhancing its technology and digital infrastructure to increase operating leverage and organically grow EBITDA and free cash flow. The sale process of their Europe-North segment and Latin American businesses is ongoing.
Partnerships & Innovations: Clear Channel Outdoor is at the forefront of innovation within the out-of-home advertising industry. The company’s dynamic advertising platform includes data analytics and programmatic capabilities, making campaigns more measurable and easier to purchase. This innovation broadens the advertiser base, driving significant engagement across its diverse portfolio.
Visit the company’s website at clearchanneloutdoor.com for more information.
Clear Channel Outdoor Holdings (NYSE: CCO) has announced its participation in the upcoming BofA Securities Leveraged Finance Conference 2024. David Sailer, Chief Financial Officer, and Jason Menzel, SVP, Treasurer, will present at the conference on Tuesday, December 3, 2024, at 2:10 p.m. EST. Interested parties can access both the live audio webcast and replay through Clear Channel Outdoor Holdings' investor website.
Clear Channel Outdoor Holdings (NYSE: CCO) has announced its participation in the upcoming Wells Fargo 8th Annual TMT Summit. CEO Scott Wells will deliver a presentation on Wednesday, December 4, 2024, at 9:30 a.m. Pacific Standard Time. The presentation will be accessible through a live audio webcast, with a replay option available on the company's investor website at investor.clearchannel.com.
Clear Channel Outdoor (NYSE: CCO) has been awarded a 15-year contract by the Metropolitan Transportation Authority (MTA) to manage over 250 roadside Out-of-Home advertising displays in the NY/NJ/CT Metro area, effective Nov. 1, 2024. The deal significantly expands CCO's presence in the nation's largest media market, complementing their existing inventory at PANYNJ airports and Times Square. The contract covers major roadways including the Long Island Expressway, Brooklyn Queens Expressway, Major Deegan Expressway, and West Side Highway, offering brands a comprehensive solution to reach local residents and tourists through CCO's RADAR data analytics platform.
Clear Channel Outdoor Americas (CCOA) and the United Service Organizations (USO) have launched a nationwide digital out-of-home media campaign for November 2024 to support U.S. military service members and their families during the holidays. Digital billboards will be displayed throughout major markets and airports across the country, including during Veterans Day, to raise awareness and encourage civilian support. The campaign highlights that service members and their families face unique challenges while serving the nation. The USO, as the only nonprofit uniquely positioned to reach service members globally, delivers programs and services to strengthen their well-being.
Clear Channel Outdoor Holdings (NYSE: CCO) reported Q3 2024 financial results with consolidated revenue of $559 million, up 6.1% year-over-year. The America segment saw 5.0% revenue growth, Airports revenue increased 9.0%, and Europe-North revenue grew 11.4%. Despite revenue growth, the company reported a loss from continuing operations of $31.5 million. The company secured a 15-year contract with New York MTA for roadside advertising assets starting November 1, 2024. CCO maintained its full-year 2024 guidance, projecting consolidated revenue between $2,222-$2,247 million, representing 4-6% growth.
Clear Channel Outdoor Holdings announced that JCDecaux SE has terminated the agreement to acquire Clear Channel's business in Spain. The termination comes after JCDecaux withdrew its regulatory filing with the Spanish National Markets and Competition Commission (CNMC) due to required commitments. Clear Channel will continue operating its Spanish business and maintain focus on its America and Airports segments.
The company noted that despite the 17-month sales process, their Spanish business performed well. Clear Channel remains committed to their strategic plan, including the Europe-North and Latin American sales processes, with goals of organic cash flow growth and leverage reduction.
Clear Channel Outdoor (NYSE: CCO) is partnering with the Afterschool Alliance and Usher's New Look for a nationwide digital billboard campaign supporting the 25th Annual Lights On Afterschool rally. The campaign, featuring superstar USHER, will run throughout October on nearly 2,000 digital billboards across the U.S.
The initiative aims to highlight the importance of afterschool programs, which provide hands-on learning, mentoring, homework help, STEM activities, and more. Despite high demand, with 25 million children wanting to enroll, many youth lack access to these programs. The campaign emphasizes the critical need for afterschool services, especially as federal pandemic relief funding ends.
Clear Channel Outdoor is donating prominent advertising spaces in 25 markets, including Times Square in New York City and South Street Station in Boston, to display afterschool messages and raise awareness about the benefits of these programs.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) has announced its schedule for the release of 2024 third quarter results and the accompanying conference call. The company will release its results before the market opens on Thursday, October 31, 2024, by 7:00 a.m. This will be followed by a conference call to discuss the results at 8:30 a.m. Eastern Time.
Interested parties can access the conference call by dialing 866-424-3432 (for United States callers) or +1 215-268-9862 (for international callers). Additionally, a live audio webcast of the call will be available on the company's website under the "Events & Presentations" section. The earnings materials, including reconciliations of non-GAAP to GAAP financial measures, will be accessible on the "Financial Info" section of the website by 7:00 a.m. Eastern Time.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) has appointed Tim Jones to its Board of Directors, effective immediately. Jones will serve as an independent director and join the Audit and Compensation Committees. This appointment expands the Board to eleven members, with ten being independent.
Jones brings over three decades of advertising experience to the role. He previously served as Chief Operating Officer (U.S. Marketing Services) of Publicis Groupe from 2021 to 2023, and as CEO of Publicis Media U.S. / Americas from 2016 to 2020.
The company expects Jones' expertise in advertising, digital marketing, and management to contribute to its strategic goals, including monetizing technology and broadening revenue streams in higher-margin U.S. assets.
Clear Channel Outdoor (NYSE: CCO) has partnered with Circana to enhance Out-of-Home (OOH) advertising measurement for consumer packaged goods (CPG) brands. This collaboration integrates CCO's RADAR® platform with Circana's Media solutions, enabling CPG advertisers to effectively target audiences and measure OOH campaign impact on key business objectives. The partnership provides insights across various CPG categories and allows measurement of specific product purchases and incremental sales.
Recent case studies have shown significant results:
- A dish detergent brand campaign drove an 11.3% lift in shopping experiences and attracted 43% new category buyers
- A light beer campaign resulted in 36% of purchases from new customers
This innovation aims to bring more CPG brands into the OOH space by delivering measurable results and value for advertisers.
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