Clear Channel Outdoor Hldgs In Stock Price, News & Analysis

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.

Clear Channel Outdoor Americas (CCOA) is actively supporting businesses in their recovery from COVID-19 by launching the COVID-19 Recovery Resource Center. This initiative provides marketers with essential data insights, strategic marketing ideas, and case studies to navigate the changing consumer landscape. Through its RADARView® solution, CCOA helps identify 'lapsed shoppers' and offers targeted advertising strategies. The initial findings reveal that outdoor advertising continues to effectively drive in-store visits, with some businesses witnessing significant sales increases during the pandemic. CCOA plans to expand these resources as the economy recovers.

Clear Channel Outdoor Holdings reported Q3 2020 financial results with a 31.8% revenue decline in the Americas to $223.7 million and a 13.4% drop in Europe to $216.9 million. Despite the pandemic's ongoing impact, the company noted a sequential revenue growth compared to Q2 as mobility and traffic metrics improved. Clear Channel secured significant contracts, including the largest U.S. airport advertising deal, enhancing long-term prospects. As of September 30, 2020, the company maintained a healthy liquidity position with $845 million in cash.