Clear Channel Outdoor Holdings Now Trading as an Independent Company
Adrian J Cotterill, Editor-in-Chief
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO), one of the world’s leading outdoor advertising companies, has completed its separation from iHeartMedia, Inc., to become an independent company with its own board of directors.
Clear Channel Outdoor Holdings is the holding company for Clear Channel International, which covers markets across Asia, Europe and Latin America, and Clear Channel Outdoor Americas, which includes markets in the United States and Caribbean. The two will continue to operate as separate business divisions.
William Eccleshare, Worldwide CEO of Clear Channel Outdoor Holdings (shown above), will mark the new chapter for the company by ringing the opening bell above the trading floor at the New York Stock Exchange on May 2.
He told us “Today marks a significant milestone for our company. This new chapter provides us with the mandate and stability to continue to invest in the transformation of out of home, while ensuring that we continue to hold our position as a market leader in a fast moving and dynamic industry. I am excited to lead Clear Channel Outdoor Holdings as we embrace our new-found position as an independent company, and build on the strong results both our CCI and CCOA divisions delivered last year”.
Ben Moreland, Chair of the Board for Clear Channel Outdoor Holdings, added “I have joined Clear Channel Outdoor Holdings at a very exciting time for the company. Our new board has a wealth of global experience from diverse and complimentary backgrounds including the tech, data, and advertising industries and the financial expertise to support Clear Channel Outdoor Holdings as it continues to drive the best customer solutions and innovations for out of home. I believe this positions us very well to deliver for customers and shareholders going forward, and speaking for the whole Board, we are excited to be part of this next chapter.”
Clear Channel Outdoor Holdings is one of the world’s biggest outdoor advertising companies with more than 450,000 displays in 31 countries worldwide, and in 2018 had revenues of USD 2.72 billion.
Clear Channel Outdoor Holdings’s separation from parent company iHeartMedia Inc., was announced in December 2018 as part of iHeartMedia’s financial restructuring process, with Clear Channel Outdoor Holdings board appointments published in January of this year.
The common stock of the outdoor advertising company will continue trading on the New York Stock Exchange under the ticker symbol ‘CCO’.
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