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Clear Channel Outdoor Holdings, Inc. reports developments in out-of-home advertising across printed and digital displays, roadside billboards, street furniture and airport media. The company sells advertising placements through a portfolio that includes U.S. roadside assets, airport displays and other markets, with recurring updates tied to digital billboard expansion, data analytics, programmatic buying and campaign measurement.
Company news also covers airport advertising contracts, brand and content partnerships for digital screen networks, research on creative quality and campaign performance, operating and financial results, shareholder matters and capital-structure actions.
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.
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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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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 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.