Clear Channel Outdoor

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Clear Channel Outdoor Holdings, Inc.
Public subsidiary
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 (Chairman and 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
7,600 (Dec 2013)[3]
ParentiHeartMedia
Websiteclearchanneloutdoor.com
Clear Channel offices in Golden Square, London.

Clear Channel Outdoor Holdings, Inc. (NYSECCO), is a public subsidiary of iHeartMedia (formerly CC Media Holdings, Inc.), and is one of the world's largest outdoor advertising corporations. The company is headquartered in San Antonio, Texas.

The company offers advertising on traditional and nontraditional advertising media. This includes billboard advertising, posters, street furniture, mall/retail advertising, airport advertising, mobile/transit advertising and spectacular advertising locations such as Times Square in New York City.

History[edit]

They are the oldest outdoor advertising company in the United States as their roots trace back to the three companies that merged into the current incarnation: Foster & Kleiser (1901–1986), Patrick Media Outdoor (1986–1995) and Eller Media Company (1959–1997). F&K changed their name to Patrick after Metromedia sold the company to General Electric, which in turn was acquired by Eller in 1995. It would change its name to Clear Channel Outdoor in 2001 after the company acquired it.

Along the way the company acquired the following:

  • Universal Outdoor (Naegele, Derse)
  • Paxton Outdoor
  • Ackerley Media
  • Badger Outdoor
  • ABC Outdoor
  • 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.[4]

In June 2003, Clear Channel Outdoor selected Arbitron Inc. (NYSE: ARB) to supply it with local market consumer information and software services in all U. S. markets served by Clear Channel Outdoor.[5]

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.[6]

In May 2006, Clear Channel Outdoor Launched UK's 1st Outdoor Digital Billboard Network. The 10 billboards measuring 5.3 metres long by 2.5 metres wide (approximately 48-sheet sized) deployed a new, energy-efficient technology.[7]

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 operates an "iHeartBillboards" blog.[8]

In a mammoth $458.5 million deal on January 12 of 2016, Lamar Advertising Company took over 5 major U.S. city markets that were held by Clear Channel.

On December 21, 2018, iHeartMedia will spin off its 89.1% stake in Clear Channel Outdoor, which will become a independent company and retain its current name (as Clear Channel Outdoor Holdings) upon emerging from Chapter 11 bankruptcy restructuring.[9]

Divisions[edit]

An "Adshel" bus shelter poster
  • Clear Channel Adshel: ads for bus shelters.
  • Clear Channel Airports: ads/posters located at major airports.
  • Clear Channel Spectacolor: specializing in "living" billboards. Locations include New York City Subway entrances and Toronto's Yonge Street.

Awards[edit]

In June 2003, the Ad Council presented an award to Clear Channel Outdoor - Los Angeles for disseminating Ad Council public service messages.[11]

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. ^ "NYSE". NYSE.com. Retrieved 2015-06-12.
  4. ^ "Clear Channel Outdoor to Relocate to Harbor Gateway Center". Thefreelibrary.com. Retrieved 2015-06-12.
  5. ^ "Clear Channel Outdoor Chooses Arbitron And Scarborough Research For Information Services In All U.S. Outdoor Markets". Thefreelibrary.com. Retrieved 2015-06-12.
  6. ^ "Clear Channel Outdoor Prices Initial Public Offering". Businessiwre.com. Retrieved 2015-06-12.
  7. ^ "Clear Channel Outdoor Launches UK's 1st Outdoor Digital Billboard Network". Thefreelibrary.com. Retrieved 2015-06-12.
  8. ^ "About iHeartBillboards". Retrieved April 21, 2016.
  9. ^ "iHeartMedia Announces Spinoff Of Clear Channel Outdoor" from Radio Insight (December 22, 2018)
  10. ^ "Connect Mobile Platform". Clear Channel Outdoor. clearchanneloutdoor.com. Retrieved 19 January 2017.
  11. ^ "Clear Channel Outdoor Los Angeles Receives 2003 Silver Bell Award for Community Service". Thefreelibrary.com. Retrieved 2015-06-12.

External links[edit]