Clear Channel Outdoor Hldgs In Stock Price, News & Analysis

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.

Clear Channel Outdoor (NYSE: CCO) has announced a partnership with Place Exchange, enhancing programmatic buying capabilities for digital media buyers. This integration allows seamless access to CCO's digital Out-Of-Home (DOOH) displays via leading Demand-Side Platforms (DSPs) like The Trade Desk and Roku's OneView. The collaboration aims to cater to evolving consumer travel patterns, providing marketers with tools to buy and measure DOOH media efficiently. CCO reaches over 100 million people monthly, strengthening its position in the growing digital advertising landscape.

Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) will announce its 2020 Q2 results on August 7, 2020, before market opening, followed by a conference call at 8:30 a.m. Eastern Time. The call can be accessed at 877-665-6356 (U.S.) and 270-215-9897 (International), with access code 2242499. A live webcast will be available on the company's website and a replay will follow for thirty days. Clear Channel is a major outdoor advertising company with approximately 570,000 displays globally, including over 16,000 digital displays.