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 (NYSE: CCO), in collaboration with Afterschool Alliance and other organizations, has launched a nationwide campaign featuring over 1,000 digital billboards to celebrate the Lights On Afterschool event. This campaign highlights the vital role of afterschool programs during the pandemic, which now serve 10.2 million students, amid a significant unmet demand. The rally aims to raise awareness of the importance of these programs in enhancing education, safety, and community engagement, especially for underserved communities.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is set to announce its 2020 third quarter earnings before the market opens on November 9, 2020, at 7:00 a.m. Eastern Time. A conference call will follow at 8:30 a.m. to discuss the results. Investors can access the call by dialing 877-665-6356 for U.S. callers or 270-215-9897 for international callers, with the access code 8978255. A live audio webcast will also be available on the company’s website, and replays will be accessible for 30 days after the call.
Clear Channel Outdoor Holdings (NYSE: CCO) announced that its Worldwide CEO William Eccleshare, CFO Brian Coleman, and CEO of Clear Channel Outdoor Americas Scott Wells will participate in a Q&A session at the Goldman Sachs 29th Annual Communacopia Conference on September 17, 2019, at 10:30 a.m. ET.
A live audio webcast will be accessible on the company's investor website for 30 days after the event. Clear Channel Outdoor is a leading outdoor advertising firm with approximately 510,000 displays worldwide, including 15,000 digital displays.
On September 2, 2020, Clear Channel Outdoor Holdings (NYSE: CCO) announced that it has regained compliance with the NYSE's listing standards. This follows a notification received on August 4, 2020, regarding non-compliance due to the stock trading below $1.00 per share for a consecutive 30-day period. As of August 31, 2020, CCO's average closing price exceeded the $1.00 requirement, allowing the company to meet NYSE standards once again.
Clear Channel Outdoor (CCO) announced a partnership with Tremor Video, enhancing their out-of-home (OOH) advertising by integrating video ads across all screens. This collaboration aims to boost brand engagement through targeted video content, utilizing CCO's RADARConnect® technology. The partnership emerges amid changing consumer behaviors due to COVID-19, allowing brands to connect more effectively with audiences during their journeys. Enhanced reporting metrics from RADAR will enable brands to optimize future campaigns, improving performance in a recovering economy.
Clear Channel Outdoor (CCO) has partnered with Arrivalist to enhance tourism-based advertising through geo-location insights. This collaboration has resulted in a remarkable 66% average increase in visits to a theme park from consumers exposed to their Out-of-Home (OOH) ads. Notably, 36% of these consumers visited the park for the day, while 64% made overnight stays. CCO's RADARProof® solution offers detailed consumer analytics, aiding hospitality brands in effectively reaching potential visitors and navigating the post-COVID landscape.
Clear Channel Outdoor Holdings (CCO) reported substantial financial declines for Q2 2020, with revenue falling 39% in the Americas and 63% in Europe year-over-year due to COVID-19. To bolster liquidity, the company enacted over $125 million in cost savings and raised $375 million from secured notes and $253 million from selling Clear Media. While some recovery is noted with improving mobility and sequential growth in bookings, current levels are still below historical norms. The company remains cautious about future recovery amid ongoing uncertainties.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) received a notice from the NYSE on August 4, 2020, regarding non-compliance with continued listing standards due to its stock price falling below $1.00 for 30 consecutive trading days. The company has six months to regain compliance, potentially through a reverse stock split, subject to board and shareholder approval. If compliance is not achieved within this period, delisting may occur. This notice does not affect operational business nor reporting obligations with the SEC.
Clear Channel Outdoor Holdings (NYSE: CCO) announced an upsized offering of $375 million in 6.625% Senior Secured Notes due 2025, increasing by $25 million from previous amounts. The offering is expected to close on August 4, 2020. Proceeds will be used to repay a $54.9 million promissory note and for general corporate purposes, including operating expenses and capital expenditures. The notes will be secured by the capital stock and bank accounts of Clear Channel International and its subsidiaries.
Clear Channel Outdoor Holdings (NYSE: CCO) announced a proposed private offering of $350 million in Senior Secured Notes due 2025 by its subsidiary, Clear Channel International B.V. The offering aims to secure funds to repay existing debt and support corporate purposes, including operating expenses. The notes will be secured by certain assets and are offered to qualified institutional buyers, exempt from registration. Clear Channel plans to use around $54.9 million of the net proceeds for a full repayment of a promissory note and other corporate needs.
FAQ
What is the current stock price of Clear Channel Outdoor Holdings (CCO)?
What is the market cap of Clear Channel Outdoor Holdings (CCO)?
What does Clear Channel Outdoor Holdings, Inc. do?
Where does Clear Channel Outdoor operate?
What recent achievements has Clear Channel Outdoor reported?
What are Clear Channel Outdoor's current projects?
How does Clear Channel Outdoor innovate within the advertising industry?
How many digital billboards does Clear Channel Outdoor operate?
What is Clear Channel Outdoor's financial condition?
What segments generate the most revenue for Clear Channel Outdoor?
Who are Clear Channel Outdoor's main clients?
Where can I find more information about Clear Channel Outdoor?
