Clear Channel Outdoor Holdings, Inc. Regains Compliance With NYSE Minimum Price Listing Standard

Rhea-AI Summary

Clear Channel Outdoor Holdings (NYSE: CCO) announced on July 1, 2020, that it has regained compliance with the NYSE's continued listing standards. This follows a prior notice from the NYSE on April 10, 2020, indicating non-compliance due to an average stock price below $1.00 over a 30-day period. The company achieved compliance after its average closing price exceeded the minimum requirement by June 30, 2020. Clear Channel operates one of the largest outdoor advertising networks globally, featuring over 570,000 displays across various regions, reaching millions monthly.

Positive

• Regained compliance with NYSE listing standards after stock price exceeded $1.00.
• One of the largest outdoor advertising companies globally with a diverse portfolio.

Negative

• Previously notified of non-compliance due to low stock price.

SAN ANTONIO, July 2, 2020 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today announced that on July 1, 2020, the Company was notified by the New York Stock Exchange (NYSE) that it has regained compliance with the NYSE's continued listing standards.

As previously disclosed, on April 10, 2020, Clear Channel Outdoor received formal notice from the NYSE that it was not in compliance with the NYSE's continued listing standards as a result of the average closing price of the Company's common stock being less than $1.00 per share over a consecutive 30 trading-day period.

Clear Channel Outdoor regained compliance after its average closing price for the 30 trading days ended June 30, 2020, exceeded the NYSE's minimum requirement of $1.00 based on a 30 trading-day average.

About Clear Channel Outdoor Holdings, Inc.

Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is one of the world's largest outdoor advertising companies with a diverse portfolio of approximately 570,000 print and digital displays in 32 countries across Asia, Europe, Latin America and North America, reaching millions of people monthly. A growing digital platform includes more than 16,000 digital displays in international markets and more than 1,900 digital displays (excluding airports), including more than 1,400 digital billboards, in the U.S.

Comprised of two business divisions – Clear Channel Outdoor Americas (CCOA), the U.S. and Caribbean business division, and Clear Channel International (CCI), covering markets in Asia, Europe and Latin America – CCO employs approximately 5,900 people globally. More information is available at investor.clearchannel.com, clearchanneloutdoor.com and clearchannelinternational.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/clear-channel-outdoor-holdings-inc-regains-compliance-with-nyse-minimum-price-listing-standard-301087768.html

SOURCE Clear Channel Outdoor Holdings, Inc.

FAQ

When did Clear Channel Outdoor regain compliance with NYSE?

Clear Channel Outdoor regained compliance on July 1, 2020.

What caused Clear Channel Outdoor to be non-compliant with NYSE?

The company was non-compliant due to an average stock price below $1.00 over a consecutive 30-day period.

What is the significance of Clear Channel Outdoor’s compliance with NYSE?

Regaining compliance allows Clear Channel Outdoor to maintain its listing and avoid potential delisting.

What is the stock symbol for Clear Channel Outdoor?

The stock symbol for Clear Channel Outdoor is CCO.