Clear Channel Outdoor

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Clear Channel Outdoor Holdings, Inc.
Public
Traded asNYSECCO
Russell 2000 Component
IndustryMass media
PredecessorFoster & Kleiser
Patrick Media Outdoor
Eller Media Company
Founded1901 (as Foster & Kleiser)
FounderLowry Mays
Karl Eller
Headquarters,
Key people
William Eccleshare (Worldwide CEO, Clear Channel Outdoor Holdings, Inc. & Chairman & CEO, Clear Channel International)
Scott Wells (CEO, Clear Channel Outdoor Americas)
ProductsOutdoor advertising
RevenueIncrease US$ 2.95 billion (2013)[1]
Increase US$ 343 million (2013)[2]
Decrease US$ −48 million (2013)[2]
Total assetsIncrease US$ 6 million (2013)[2]
Total equityIncrease US$ 103 million (2013)[2]
Number of employees
5,600 (May 2019)
ParentClear Channel Outdoor Holdings, Inc.
Websiteclearchanneloutdoor.com
Clear Channel offices in Golden Square, London.

Clear Channel Outdoor Holdings, Inc. (NYSECCO) is one of the world's largest outdoor advertising companies managing 450,000 print and digital displays in 31 countries. The company is headquartered in San Antonio, Texas.

Their digital platform includes over 13,500 digital displays in its international markets and 1,200 digital billboards in the U.S.

Comprising two business divisions - Clear Channel International (CCI), covering markets in Asia, Europe and Latin America, and Clear Channel Americas (CCOA), the U.S. and Caribbean business division - CCO employees 5,600 people globally.

History[edit]

Clear Channel Outdoor is the oldest outdoor advertising company in the United States, with origins in three predecessor companies: Foster & Kleiser (1901–1986), Patrick Media Outdoor (1986–1995), and Eller Media Company (1959–1997). F&K changed its name to Patrick after Metromedia sold the company to General Electric, and was acquired in turn by Eller in 1995. Patrick would change its name to Clear Channel Outdoor in 2001 after Eller acquired it.

Along the way it also acquired Universal Outdoor (Naegele, Derse), Paxton Outdoor, Ackerley Media, Badger Outdoor, ABC Outdoor, and Hansen Outdoor.

In November 2002, Clear Channel Outdoor announced that it would move its Los Angeles headquarters to a site in the Harbor Gateway neighborhood, in the Harbor Gateway Center being developed by Boeing Realty Corp.[3]

In November 2005, Clear Channel Outdoor announced the initial public offering of 35,000,000 shares of Class A common stock of Clear Channel Outdoor Holdings at a price of $18.00 per share, for a total offering of $630,000,000.[4]

The parent company changed its name to iHeartMedia in September 2014. The outdoor advertising unit retained the Clear Channel name to protect that trademark; however the company operated an "iHeartBillboards" blog until 2017.[5]

On January 12, 2016, Lamar Advertising Company purchased Clear Channel Outdoor's assets in 5 major U.S. city markets for $458.5 million.

On December 21, 2018, iHeartMedia spun off its 89.1% stake in Clear Channel Outdoor, which emerged from Chapter 11 bankruptcy restructuring, became a independent company, and retained its current name (as Clear Channel Outdoor Holdings).[6]

On May 1, 2019, Clear Channel Outdoor Holdings, Inc. completed separation from iHeartMedia, Inc. to become an independent company with its own board of directors.[7]

Divisions[edit]

A bus shelter poster
  • Clear Channel Airports: ads/posters located at major airports.

Awards[edit]

In June 2003, the Ad Council presented an award to Clear Channel Outdoor - Los Angeles for disseminating Ad Council public service messages.[9]

See also[edit]

References[edit]

  1. ^ "Clear Channel Outdoor Holdings, Inc. (CCO) Earnings/Growth Ratio | The Motley Fool". Fool.com. Retrieved 2015-06-12.
  2. ^ a b c d "Clear Channel Outdoor Holdings, Inc. (CCO) Income Statement | The Motley Fool". Fool.com. Retrieved 2015-06-12.
  3. ^ "Clear Channel Outdoor to Relocate to Harbor Gateway Center". Thefreelibrary.com. Retrieved 2015-06-12.
  4. ^ "Clear Channel Outdoor Prices Initial Public Offering". Businessiwre.com. Retrieved 2015-06-12.
  5. ^ "About iHeartBillboards". Retrieved April 21, 2016.
  6. ^ "iHeartMedia Announces Spinoff Of Clear Channel Outdoor" from Radio Insight (December 22, 2018)
  7. ^ "Clear Channel Outdoor Holdings Starts Trading as Independent Company". Clear Channel Outdoor Americas. 2019-05-01. Retrieved 2019-05-16.
  8. ^ "Connect Mobile Platform". Clear Channel Outdoor. clearchanneloutdoor.com. Retrieved 19 January 2017.
  9. ^ "Clear Channel Outdoor Los Angeles Receives 2003 Silver Bell Award for Community Service". Thefreelibrary.com. Retrieved 2015-06-12.

External links[edit]