Clear Channel Outdoor Holdings, Inc. - CCO STOCK NEWS

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.

Clear Channel Outdoor Holdings (NYSE: CCO) has announced its participation in Deutsche Bank's 32nd Annual Leveraged Finance Conference. The event is scheduled for Tuesday, September 24, 2024, at 9:20 a.m. Mountain Standard Time. Representing the company will be David Sailer, Chief Financial Officer, and Jason Menzel, Senior Vice President, Treasurer.

Investors and interested parties can access the live audio webcast of the presentation, as well as a replay, through Clear Channel Outdoor Holdings' investor website at https://investor.clearchannel.com/. This conference provides an opportunity for the company to engage with investors and discuss its financial strategies and performance.

Clear Channel Outdoor Holdings (NYSE: CCO) has announced that its top executives will be participating in Citi's 2024 Global TMT Conference. CEO Scott Wells and CFO David Sailer are scheduled to present on Friday, September 6, 2024, at 8:20 a.m. Eastern Time.

This presentation offers investors and analysts an opportunity to gain insights into Clear Channel Outdoor's strategies and performance. The company, a leader in outdoor advertising, will make the presentation accessible to a wider audience through a live audio webcast. For those unable to attend or listen live, a replay will be available on Clear Channel Outdoor's investor website.

This event underscores Clear Channel Outdoor's commitment to transparency and engagement with the financial community, potentially impacting investor sentiment and stock performance.