Transaction Overview - Clear Channel Outdoor Holdings Inc has entered into a definitive agreement to sell its Europe-North segment to Bauer Radio Limited for an expected purchase price of $625 million [1] - The all-cash consideration represents a transaction multiple of approximately 6.5x Europe-North segment results for the twelve months ended September 30, 2024 [2] - The transaction is expected to close in 2025, subject to regulatory approvals [3] Use of Proceeds - The company plans to use the anticipated net proceeds from the sale to prepay in full the outstanding CCIBV term loans in the principal amount of $375 million, plus any accrued interest [2] - The remaining expected net proceeds will be subject to the asset sale provisions of the agreements governing the remainder of the company's indebtedness [2] Strategic Rationale - The sale of the Europe-North segment is part of the company's strategic plan to optimize its portfolio and focus on growing its America and Airports segments to improve cash flow and reduce leverage [3] - Upon completion of this transaction, the company will have divested the substantial majority of its European operations [3] Accounting Treatment - The company's plan to sell the Europe-North segment met the criteria to be reported as discontinued operations during the fourth quarter of 2024 [4] - Starting with the release of the company's fourth quarter 2024 results, assets and liabilities of these discontinued operations will be presented separately in the company's Consolidated Balance Sheets [4] - Results of discontinued operations will be reported as a separate component of consolidated net loss in the company's Consolidated Statements of Loss [4] Financial Advisors - The company engaged Moelis & Company LLC and Deutsche Bank Securities Inc as financial advisors to assist with the process to sell the Europe-North segment [6] Company Overview - Clear Channel Outdoor Holdings Inc is at the forefront of driving innovation in the out-of-home advertising industry [7] - The company's dynamic advertising platform is broadening the pool of advertisers through the expansion of digital billboards and displays and the integration of data analytics and programmatic capabilities [7][8] - The company leverages the scale, reach and flexibility of its diverse portfolio of assets to connect advertisers with millions of consumers every month [8]

Early Arrival Multi-Year Deal Lands as Air Travel Soars, Offers Brands Exclusive Access to Ultra-High-Net-Worth Travelers NEW YORK, Dec. 4, 2024 /PRNewswire/ -- Clear Channel Outdoor's Airports Division, the Americas-based airports business of Clear Channel Outdoor Holdings, Inc. (NYSE: CCO), today announced that through a five-year contract renewal with Signature Aviation (formerly Signature Flight Support), the world's largest network of private aviation terminals, it will continue to revolutionize advert ...

SAN ANTONIO, Nov. 18, 2024 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc., (NYSE: CCO) announced today that Scott Wells, Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. and Clear Channel Outdoor Americas, is scheduled to present at the Wells Fargo 8th Annual TMT Summit on Wednesday, December 4, 2024, at 9:30 a.m., Pacific Standard Time. The live audio webcast, as well as the replay, will be available on Clear Channel Outdoor Holdings' investor website at https://investor.clearchannel.c ...

SAN ANTONIO, Nov. 18, 2024 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc., (NYSE: CCO) announced today that David Sailer, Chief Financial Officer of Clear Channel Outdoor Holdings, Inc., and Jason Menzel, SVP, Treasurer of Clear Channel Outdoor Holdings, Inc., are scheduled to present at the BofA Securities Leveraged Finance Conference 2024 on Tuesday, December 3, 2024, at 2:10 p.m., Eastern Standard Time.  The live audio webcast, as well as the replay, will be available on Clear Channel Outdoor Holdi ...

FORT LAUDERDALE, Fla., Nov. 12, 2024 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (OTCQB: ZEFIF) (the “Company”, “Zefiro”, or “ZEFI”) today announced that the Company’s Chief Commercial Officer Tina Reine will serve as a featured speaker at the United Nations’ 2024 Climate Change Conference (“COP29”) tomorrow, November 13th, at 3:40 PM GMT+4 in Baku, Azerbaijan. In addition to attending the conference with Zefiro Founder and Chief Executive Officer Talal Debs, Ms. Reine will ...

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Q3 2024 Earnings Conference Call October 31, 2024 8:30 AM ET Company Participants Eileen McLaughlin - Vice President, Investor Relations Scott Wells - Chief Executive Officer David Sailer - Executive Vice President and Chief Financial Officer Justin Cochrane - Chief Executive Officer, UK and Europe Conference Call Participants Cameron McVeigh - Morgan Stanley Daniel Osley - Wells Fargo Avi Steiner - JPMorgan Lance Vitanza - TD Cowen Aaron Watts - Deutsche Bank ...

For the quarter ended September 2024, Clear Channel Outdoor (CCO) reported revenue of $558.99 million, up 6.1% over the same period last year. EPS came in at -$0.07, compared to -$0.12 in the year-ago quarter.The reported revenue represents a surprise of +0.60% over the Zacks Consensus Estimate of $555.66 million. With the consensus EPS estimate being -$0.07, the company has not delivered EPS surprise.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stree ...

Clear Channel Outdoor (CCO) came out with a quarterly loss of $0.07 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.12 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this outdoor advertising company would post a loss of $0.04 per share when it actually produced a loss of $0.06, delivering a surprise of -50%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.Clear Channel Outdo ...

SAN ANTONIO, Oct. 31, 2024 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today reported financial results for the quarter ended September 30, 2024. "Our third quarter consolidated revenue of $559 million increased 6.1%, or 5.7% excluding movements in foreign exchange rates, with growth across all of our business segments," said Scott Wells, Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. "Our America segment delivered a revenue increase of 5.0% during the p ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-32663 CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 88-0318078 | --- | ...