Ares Reports 14.6M Share Dispositions in Clear Channel Outdoor (CCO) Form 4s
Rhea-AI Filing Summary
Ares Management and related Ares Entities disclosed sales of Clear Channel Outdoor Holdings, Inc. (CCO) common stock on September 9-10, 2025. The filings show an aggregate sale of 14,631,555 shares: 1,631,555 shares sold on 09/09/2025 at $1.386 (weighted) and 13,000,000 shares sold on 09/10/2025 at a weighted average price of $1.1316. Beneficial ownership reported after the 09/09 transaction was 54,197,491 shares and after the 09/10 transaction was 41,197,491 shares. The report lists the specific Ares entities that hold shares and explains their ownership chain and shared beneficial ownership disclaimers. The Form 4s are signed by an authorized Ares signatory on 09/11/2025.
Positive
- None.
Negative
- Reported reduction in beneficial ownership of CCO by 13,000,000 shares following the 09/10/2025 sale, lowering holdings from 54,197,491 to 41,197,491.
- Aggregate disposition of 14,631,555 CCO shares across two dates (09/09/2025 and 09/10/2025) indicating substantial selling activity by Ares Entities.
Insights
TL;DR: Ares Entities executed significant open-market dispositions totaling 14.63M CCO shares, reducing reported beneficial ownership materially.
The filings document definitive sales on 09/09/2025 and 09/10/2025 totaling 14,631,555 CCO shares at weighted average prices of $1.386 and $1.1316 respectively. Beneficial ownership reported fell from 54,197,491 to 41,197,491 shares following the larger sale. The disclosure aggregates holdings across multiple Ares-managed funds and entities and includes the required footnote explaining the organizational chain and disclaimers. For investors, the key fact is a sizable, contemporaneous reduction in Ares-reported holdings disclosed via Section 16 filings.
TL;DR: Multiple Ares-related reporting persons filed coordinated Form 4s detailing shared beneficial ownership and substantial sales.
The paperwork clearly attributes the shares to a set of funds and management entities and provides the organizational relationships and voting structure. Filings are signed and include the standard disclaimers that individual board members disclaim beneficial ownership of the reported securities. The disclosure meets Form 4 requirements by reporting transaction dates, codes, quantities, weighted average price range, and post-transaction beneficial ownership levels.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 13,000,000 | $1.1316 | $14.71M |
| Sale | Common Stock | 1,631,555 | $1.386 | $2.26M |
Footnotes (4)
- F1. Following the transactions reported herein, includes: (i) 8,722,544 shares held by ASSF IV AIV B Holdings III, L.P. ("ASSF IV AIV B Holdings"), (ii) 984,295 shares held by ASSF IV AIV B, L.P. ("ASSF IV AIV B"), (iii) 19,332,427 shares held by ASOF Holdings I, L.P. ("ASOF I"), (iv) 5,095,692 shares held by ASOF II Holdings I, L.P. ("ASOF II Holdings I"), (v) 918,342 shares held by ASOF II A (DE) Holdings I, L.P. ("ASOF II A (DE) Holdings I"), and (vi) 6,144,191 shares held by ACOF VI Holdings, L.P. ("ACOF VI").
- F2. Ares Partners Holdco LLC ("Ares Partners") is the sole member of each of Ares Voting LLC and Ares Management GP LLC, which are respectively the holders of the Class B and Class C common stock of Ares Management Corporation ("Ares Management"), which common stock allows them, collectively, to generally have the majority of the votes on any matter submitted to the stockholders of Ares Management if certain conditions are met. Ares Management is the sole member of Ares Holdco LLC, which is the general partner of Ares Management Holdings L.P., which is the sole member of Ares Management LLC, which is: (i) the general partner of ASSF Operating Manager IV, L.P., which is the manager of ASSF IV AIV B Holdings and ASSF IV AIV B; (ii) the sole member of ASOF Investment Management LLC, which is the manager of ASOF I, ASOF II Holdings I and ASOF II A (DE) Holdings I; and (iii) the sole member of ACOF Investment Management LLC, which is the manager of ACOF VI.
- F3. We refer to all of the foregoing entities collectively as the Ares Entities. Each of the Ares Entities may be deemed to share beneficial ownership of the securities reported herein, but each disclaims any such beneficial ownership of securities not held of record by them. Ares Partners is managed by a board of managers, which is composed of Michael J Arougheti, R. Kipp deVeer, David B. Kaplan, Antony P. Ressler and Bennett Rosenthal (collectively, the "Board Members"). Mr. Ressler generally has veto authority over Board Members' decisions. Each of these individuals disclaims beneficial ownership of the securities that may be deemed to be beneficially owned by Ares Partners.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.12 to $1.2714, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
AI-generated analysis. How Rhea-AI works. Not financial advice.
