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) announced that CEO Scott Wells and CFO Brian Coleman will participate in a Q&A session at the Cowen Technology, Media, and Telecom Conference on June 3, 2021, at 11:10 a.m. Eastern Time. The session will be available via live audio webcast on Clear Channel Outdoor's investor website and can be replayed for 30 days. Clear Channel Outdoor is a leading outdoor advertising firm with over 500,000 displays across 31 countries, including 17,000 digital displays, reaching millions globally.
Clear Channel Outdoor Americas (CCO) has launched a month-long digital billboard campaign across Texas to raise awareness of four missing children’s cases. The initiative coincides with National Missing Kids Day and aims to highlight the plight of 37,023 missing children reported in 2020 in Texas. Each child's image will be displayed on digital billboards 1,250 times daily, generating millions of impressions. Previous campaigns have successfully contributed to locating missing teens in San Antonio and Houston. This public service campaign is provided at no cost in collaboration with the Texas Center for the Missing.
Clear Channel Outdoor Holdings (NYSE: CCO) announced a pricing of an offering totaling $1,050,000,000 in 7.500% Senior Notes due 2029. The issuance is set to finalize on June 1, 2021, subject to customary conditions. Proceeds will be used to redeem $961,525,000 of 9.25% Senior Notes due 2024 and cover related transaction expenses. The Notes will be guaranteed by certain subsidiaries and are offered under Rule 144A exemptions. The company cautions that forward-looking statements are subject to risks and uncertainties, including the consummation of the Offering.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) announced a proposed private offering of $1,050,000,000 in Senior Notes due 2029, exempt from registration under the Securities Act. The Notes will be guaranteed by certain domestic subsidiaries and will rank equally with the company's existing senior debt. Proceeds will be used to redeem $961,525,000 of 9.25% Senior Notes due 2024 and cover related expenses. The offering targets qualified institutional buyers under Rule 144A and complies with Regulation S for international investors.
Clear Channel Outdoor Holdings (NYSE: CCO) announced on May 14, 2021, that its board approved an 11-month extension of its shareholder rights plan, extending the expiration date to April 15, 2022. This decision was made to safeguard shareholder interests amid concerns about potential control acquisitions through market manipulation, especially given the impacts of COVID-19 on the company and its stock price. The Rights Plan aims to ensure shareholders realize the long-term value of their investments and prevents coercive tactics by potential acquirers.
Clear Channel Outdoor Holdings (CCO) reported Q1 2021 financial results reflecting ongoing pandemic challenges. The Americas segment saw revenue drop to $211.9 million from $295.8 million year-over-year, while Europe revenue fell to $149.5 million from $211.7 million. Adjusted EBITDA in Europe was negative at $(67.6) million. The company anticipates revenue growth in Q2, projecting Americas revenue between $265 million and $275 million. Liquidity measures include renegotiated contracts and issuance of $1 billion in Senior Notes.
Clear Channel Outdoor Americas (CCOA) has partnered with Resorts World Las Vegas to launch an innovative advertising platform featuring over 135,000 square feet of digital signage. This collaboration aims to target leisure and business travelers, enhancing brand visibility through three major digital displays, including the largest exterior LED building display in the U.S. CCOA emphasizes its commitment to revitalizing tourism and business travel in Las Vegas, marking a significant step in the recovery post-COVID. The digital displays will allow brands to create captivating campaigns along the iconic Las Vegas Strip.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) will announce its first quarter 2021 financial results on May 10, 2021, before the market opens. The earnings release will be made available by 7:00 a.m. Eastern Time, followed by a conference call at 8:30 a.m. Eastern Time to discuss the results. Investors can access the call at 877-665-6356 (U.S.) or 270-215-9897 (International) using access code 3867564. A live audio webcast will also be available on the Company's website, alongside related earnings materials post-release.
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