Clear Channel Outdoor Holdings, Inc. Restructures Global Operations to Enhance Shareholders Value

In recent news Clear Channel Outdoor Holdings, Inc. announced that they have sold Clear Channel France to Equinox Industries and are now looking to sell their Europe-North segment, which includes the UK and Northern Europe. They’re also conducting strategic review of their Latin American businesses in countries like Mexico, Brazil, Chile, and Peru. These moves are part of Clear Channel’s efforts to optimize its portfolio, strengthen its financial position, and enhance shareholder value.

Clear Channel has already sold its businesses in Switzerland, Italy, and France and plans to sell its Spanish business. The company is getting help from financial advisors, Moelis & Company LLC and Deutsche Bank Securities Inc., for these changes. However, there is no set timeline for completing these processes. According to Generally Accepted Accounting Principles, this transition will lead to separate presentation of assets and liabilities in the Company’s Consolidated Balance Sheets, impacting the reporting of results for discontinued operations in the Consolidated Statements of Loss.

Additionally, they’ve moved their Europe-South segment to discontinued operations. Clear Channel Outdoor Holdings, Inc. is a leader in the outdoor advertising industry, using digital billboards and data analytics to connect advertisers with consumers in 19 countries.

Despite these positive steps, there are risks involved in these changes, including delays and economic uncertainties. The company remains committed to enhancing shareholder value and optimizing its global presence.

Read full press release from Clear Channel Outdoor here: https://investor.clearchannel.com/news/news-details/2023/Clear-Channel-Outdoor-Holdings-Inc.-Completes-Sale-of-Clear-Channel-France-to-Equinox-Industries-Initiates-Process-to-Sell-its-Europe-North-Segment-Businesses-and-Strategic-Review-of-its-Latin-American-Businesses/default.aspx