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 (CCO) announced its Q4 2020 financial results, showing a 25.3% revenue decline in the Americas, totaling $257.8 million, and a 17.9% dip in Europe, at $268.4 million. Adjusted EBITDA fell 35.4% and 43.2% respectively. The resurgence of COVID-19 impacted mobility and advertising, leading to lower revenues. The company emphasized its digital transformation and cost-cutting measures to enhance liquidity, reporting $785.3 million cash on hand. Guidance for Q1 2021 indicates further revenue declines due to ongoing pandemic effects.
Clear Channel Outdoor Holdings (NYSE: CCO) will present at the J.P. Morgan Global High Yield and Leveraged Finance Conference on March 3, 2021, at 8:30 a.m. ET. The session will include insights from CEO William Eccleshare, CFO Brian Coleman, and Scott Wells, CEO of Clear Channel Outdoor Americas. A live audio webcast will be accessible on their investor website and will be available for replay for 30 days. Clear Channel Outdoor, a leader in outdoor advertising, operates about 500,000 displays globally, including over 16,000 digital displays.
Clear Channel Outdoor Holdings (NYSE: CCO) will participate in a Q&A session at the Deutsche Bank Media, Internet and Telecom Conference on March 8, 2021, at 9:00 a.m. ET. CEO William Eccleshare and CFO Brian Coleman, along with Scott Wells, CEO of Clear Channel Outdoor Americas, will be featured. A live audio webcast will be available on the company’s investor website and can be replayed for 30 days. Known for its extensive portfolio of about 500,000 displays globally, Clear Channel is a leader in outdoor advertising.
Clear Channel Outdoor Holdings (NYSE: CCO) announced that CEO Scott Wells will participate in a Q&A session at the Morgan Stanley Media and Telecom Conference on March 1, 2021, at 3:30 p.m. ET. The session will be accessible via a live audio webcast on their investor website, with a replay available for 30 days. Clear Channel is a leading outdoor advertising company with around 500,000 displays across 31 countries, including over 16,000 digital displays internationally and more than 2,000 in the U.S. alone.
Clear Channel Outdoor Holdings has announced a $1 billion offering of 7.750% Senior Notes due 2028. The issuance is expected to close on February 17, 2021. Proceeds will be used to redeem $940 million of existing 9.25% Senior Notes due 2024 and cover related fees. The Notes will rank equally with all current senior debt but will be subordinated to secured debts. The offering is targeted at qualified institutional buyers and will not be registered under the Securities Act.
Clear Channel Outdoor Holdings announced a private offering of $1 billion in Senior Notes due 2028, intended to refinance existing debt by redeeming $940 million of its 9.25% Senior Notes due 2024. The offering is exempt from registration under the Securities Act, targeting qualified institutional buyers and non-U.S. investors. The Notes will be guaranteed by certain subsidiaries but will rank subordinate to existing secured debt. The company warns that various risks may affect the offering's consummation and terms.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) will release its 2020 fourth quarter and full year results on February 25, 2021, before market opens. A conference call is scheduled for 8:30 a.m. ET to discuss these results, with a live audio webcast accessible on their website. The company's portfolio includes approximately 500,000 displays globally, employing around 5,100 people. Key insights and reconciliations related to financial metrics will be available on their financial section post-release.
Clear Channel Outdoor Americas (CCOA) has launched a partnership with Bombora to enhance its RADARView audience planning solution, allowing brands to target B2B decision-makers effectively. This integration provides advertisers with insights into over 100 B2B audience segments and how CCOA's displays impact these groups. As businesses adapt to pandemic-induced changes, the solution enables precise targeting for brands looking to reach key business audiences, including C-level executives and small business owners, throughout their daily routines.
Clear Channel Outdoor Americas (CCO) announced a partnership with No Kid Hungry to launch a nationwide digital billboard campaign aimed at addressing childhood hunger during the holiday season. This initiative, running through the end of the year, promotes local meal resources and aims to reach tens of millions of viewers. With nearly one in four children facing food insecurity exacerbated by the pandemic, the campaign highlights available assistance in both English and Spanish across 1,400 digital billboards.
Clear Channel Outdoor Holdings (NYSE: CCO) announced that its executive team, including CEO William Eccleshare, CFO Brian Coleman, and Scott Wells, CEO of Clear Channel Outdoor Americas, will participate in a Q&A session at the Wells Fargo TMT Summit on December 2, 2020, at 10:40 a.m. ET. A live audio webcast will be available on their investor website, with a 30-day replay option. As a leading outdoor advertising firm, CCO operates approximately 500,000 displays globally, including over 16,000 digital displays.
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