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Clear Channel Outdoor Holdings, Inc. Announces Chief Financial Officer And General Counsel Appointments
Brian Coleman to Become Chief Financial Officer When Clear Channel Outdoor Holdings Becomes Standalone Public Company; Experienced Financial and Operating Executive Currently Serving as SVP and Treasurer of iHeartMedia, Inc.
Lynn Feldman To Become EVP and General Counsel of Clear Channel Outdoor Holdings, Inc.; Will Also Continue In Her Role as General Counsel for Clear Channel Outdoor Americas
San Antonio, TX and New York, NY – February 25, 2019 – Clear Channel Outdoor Holdings, Inc. (NYSE:CCO), a subsidiary of iHeartMedia, Inc. (PINK: IHRTQ), announced today that Brian Coleman will become Chief Financial Officer of Clear Channel Outdoor Holdings, Inc. (CCOH) when the company becomes a standalone public company upon iHeartMedia’s emergence from its previously announced restructuring process.
Coleman, an experienced financial and operating executive who currently serves as Senior Vice President and Treasurer of iHeartMedia, Inc., oversees the treasury, cash management and risk management functions for both iHeartMedia and CCOH and is directly responsible for management of the companies’ capital structure, liability management and liquidity. In this new role, Coleman’s new responsibilities as CFO of CCOH will include assisting in the development of global financial strategy for each of the company’s operating divisions; leading all global financial functions, including liquidity management and tax strategies; supporting the capital allocation process; leading all M&A activities; and managing the company’s investor relations strategy, including equity and debt capital market communications. He will report to William Eccleshare, who will serve as CEO of CCOH upon the companies’ separation.
The company also announced today that Lynn Feldman, currently serving as Executive Vice President and General Counsel of CCOH’s Clear Channel Outdoor Americas (CCOA) division, will become Executive Vice President, General Counsel and Corporate Secretary of CCOH when it becomes a standalone company. Feldman will advise CCOH’s new Board of directors and senior leadership team on all major transactions, litigation, financial strategies and other critical initiatives; be responsible for the development and execution of the legal strategy and operations that support the company’s business plans; and lead the company’s compliance program. Feldman, who in this new role will report to William Eccleshare, will also continue in her role as General Counsel for CCOA. Adam Tow will continue as General Counsel of the International division, reporting into William Eccleshare.
“Our number one priority as Clear Channel Outdoor Holdings prepares to become a standalone company is to build the strong leadership team that can move quickly to position us for growth and success,” said Eccleshare. “Brian and Lynn both have outstanding track records at Clear Channel over the past several years, and I am confident that they possess the strategic expertise and strong operational experience to enable us to hit the ground running as a newly independent company and emerge as a leader in the global out-of-home market.”
Forward-Looking Statements
This press release includes “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements contain words such as “may,” “will,” “expect,” “believe,” “would,” “estimate,” “continue,” or “future,” or the negative or other variations thereof or comparable terminology. In particular, they include statements relating to, among other things, the proposed restructuring of iHeartMedia, timing to exit Chapter 11 and future outcomes. These forward-looking statements are based on current expectations and projections about future events. Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is one of the world’s largest outdoor advertising companies with over 450,000 displays in 31 countries across Asia, Europe, Latin America and North America. Reaching millions of people monthly, including consumers in 44 of the top 50 U.S. markets, Clear Channel Outdoor enables advertisers to engage with consumers through innovative advertising solutions. Clear Channel Outdoor is pioneering the integration of out-of-home with mobile and social platforms, and the company’s digital platform includes more than 1,200 digital billboards across 28 markets in the U.S. and over 13,000 digital displays in international markets. More information is available at www.clearchanneloutdoor.com and www.clearchannelinternational.com.
Media:
Wendy Goldberg
Executive Vice President, Communications (212) 377-1105
Investors:
Eileen McLaughlin
Vice President, Investor Relations (212) 377-1116
Clear Channel Outdoor Holdings, Inc. Sets Date For 2018 Fourth Quarter And Full Year Earnings Teleconference
San Antonio, TX, February 22, 2019 —Clear Channel Outdoor Holdings, Inc. (NYSE: CCO), will release 2018 fourth quarter and full year results after the market closes on Tuesday, March 5, 2019 and will host a conference call to discuss results at 4:30 p.m. Eastern Time.
The earnings conference call will not include iHeartMedia, Inc., the indirect parent of Clear Channel Outdoor, as iHeartMedia, Inc. will not hold quarterly conference calls during iHeartMedia’s bankruptcy process.
The conference call number is 1-800-230-1074 (U.S. callers) and 1-612-234-9959 (International callers) and the access code for both is 463556. A live audio webcast of the conference call and the related earnings materials, including reconciliations of any non-GAAP financial measures to GAAP financial measures and any other applicable disclosures, will be available on the investor section of the Clear Channel Outdoor Holdings, Inc. website (www.clearchanneloutdoor.com).
After the live conference call, a replay will be available for a period of thirty days. The replay numbers are 800- 475-6701 (U.S. callers) and 320-365-3844 (International callers) and the access code for both is 463556. An archive of the webcast will be available within 24 hours after the call for a period of thirty days.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is one of the world’s largest outdoor advertising companies with over 450,000 displays in 31 countries across Asia, Europe, Latin America and North America. Reaching millions of people monthly, including consumers in 44 of the top 50 U.S. markets, Clear Channel Outdoor enables advertisers to engage with consumers through innovative advertising solutions. Clear Channel Outdoor is pioneering the integration of out-of-home with mobile and social platforms, and the company’s digital platform includes more than 1,200 digital billboards across 28 markets in the U.S. and over 13,000 digital displays in international markets. More information is available at www.clearchanneloutdoor.com and www.clearchannelinternational.com.
Media:
Wendy Goldberg
Executive Vice President, Communications (212) 377-1105
Investors:
Eileen McLaughlin
Vice President, Investor Relations (212) 377-1116
The Drug Enforcement Administration and the Chicago Crime Commission Launch a Provocative New Billboard Campaign with Clear Channel Outdoor in an Effort to Save Chicagoans from Opioid-Related Deaths & Abuse
Chicago – A partnership was announced today among the U.S. Drug Enforcement Administration (DEA), the Chicago Crime Commission, and Clear Channel Outdoor to highlight a public awareness campaign that addresses the prescription opioid, heroin and fentanyl epidemic that is plaguing the city of Chicago, our state, and our nation. Provocative and informational drug prevention and treatment messaging has already begun to appear on numerous Clear Channel Outdoor digital billboards in Chicagoland. This 12-month digital campaign will run on up to 15 digital billboards and on 20 Metra in-station digital displays to promote the prevalence and dangers of opioid abuse.
This collaborative effort between DEA, the Chicago Crime Commission, and Clear Channel Outdoor, is estimated to deliver over 150 million impressions over its 12-month span. The goal is to reach those affected throughout all stages of the fight. These messages target all members of the community, from those in need of prevention programs to those who need help for themselves or a loved one.
In 2017, opioid-related overdose deaths in Illinois exceeded 2,200, with around half of those deaths occurring in the Chicagoland area. Fentanyl is the driving force behind the increase in overdose deaths. According to the Cook County Medical Examiner, in 2017 there were 669 fentanyl-related deaths in Cook County.
In a news conference held earlier today, DEA Chicago’s Associate Special Agent in Charge, Robert J. Bell, and representatives from the Chicago Crime Commission, were joined by Amy Voss, a local advocate in the fight against opioids; Douglas O’Brien, Health and Human Services-Regional Director (Region V); and Kim Bradley-Regional President Clear Channel Outdoor (Midwest) to speak with an audience of reporters and supporters to underscore the need for raising awareness of the opioid crisis across the state of Illinois and the country.
“What we want is to motivate parents and caregivers to talk with their children about the dangers of these deadly substances to prevent experimentation and addiction before it starts. This campaign offers hope for those who are in the grips of dependence – hope for their families – hope that there is a path to treatment and stability,” said DEA’s Robert J. Bell.
“DEA is very good at identifying and arresting drug traffickers, but law enforcement efforts alone can’t solve the problem. This epidemic needs to be attacked from every angle – catch the bad guys, help those who need it and make sure our children, partners, friends, and neighbors never start misusing drugs,” said J.R. Davis, President and Chairman of the Chicago Crime Commission.
“Opioid abuse is a national epidemic,” said Kim Bradley, Regional President, Clear Channel Outdoor – Midwest. “We believe the power of out of home media can direct victims and their families to relief or assistance from addiction. Our collaboration with the DEA and the Chicago Crime Commission will drive awareness in our communities of what is now the deadliest drug crisis in American history. We want citizens of Chicago to know that it’s never too late to get help.”
One of the best ways to put the dealers out of business is to take away their customers. If we are open and honest about how deadly this crisis is, we are more likely to reach that child, friend, or spouse before they take that first hit, that first pill, that first step to addiction. Today’s announcement, and this billboard campaign, will help jump-start that conversation.
Ultravision, Clear Channel Outdoor Americas Partner on Multi-Million Dollar Energy-Saving Initiative across the U.S. for LED Billboard Lighting
DALLAS – FEBRUARY 11, 2019 – Ultravision International, a leading innovator, manufacturer and distributor of LED displays and LED lighting, partnered with Clear Channel Outdoor Americas (CCOA) (NYSE: CCO), an indirect subsidiary of iHeart Media, Inc., on an LED installation project that drove significant operating savings.
The project included revamping 11,000 display panels in 10 major U.S. cities with LED lights that cut energy consumption by more than 60 percent. More than a dozen Utility companies provided rebates for the project, as LED retrofits are a major step toward reducing energy demand for the grid, cutting costs, and curbing negative impacts on the environment.
CCOA is one of the largest outdoor advertising companies in the world, and has revamped billboards with state-of-the-art LED lights that have a lifespan of 10 years (4 times longer than the bulbs they replace). CCOA advertisers will benefit from the longevity and reliability of the LED lights designed with patented technology delivering an evenly lit display even if individual LED strips fail. Like all Ultravision products, the 120 watt and 150 watt LED lights used for the retrofitting project are Made in America by workers in the North Texas area where Ultravision is headquartered.
“Our partnership with Clear Channel Outdoor Americas reflects a shared vision of providing advertisers with unparalleled opportunities to be creative and connect with consumers, while also driving the outdoor display industry towards more energy-efficient and cost-effective solutions,” said William Hall, CEO and co-founder of Ultravision International. “We are excited to collaborate with them on this project and look forward to seeing how advertisers take advantage of the revamped billboards.”
“This solution is a win-win allowing our customers to deliver impactful advertising campaigns while using LED lighting technology that greatly reduces energy consumption and operating costs,” said Orly Ortiz, Vice President, Field Operations,Clear Channel Outdoor Americas. “This LED conversion ties into our broader environmental health and safety initiatives which include: air cleaning billboards and street furniture, recycling and repurposing printed advertisements and retrofitting our media with the latest verticle fall protection systems.
More information on Ultravision’s LED displays and lighting solutions can be found here.
About Clear Channel Outdoor
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is one of the world’s largest outdoor advertising companies with over 450,000 displays in 31 countries across Asia, Europe, Latin America and North America. Reaching millions of people monthly, including consumers in 44 of the top 50 U.S. markets, Clear Channel Outdoor enables advertisers to engage with consumers through innovative advertising solutions. Clear Channel Outdoor is pioneering the integration of out-of-home with mobile and social platforms, and the company’s digital platform includes more than 1,200 digital billboards across 28 markets in the U.S. and over 13,000 digital displays in international markets. More information is available at www.clearchanneloutdoor.com and www.clearchannelinternational.com
About Ultravision International
Ultravision International’s innovative LED displays and LED lights are Made in America. The products’ patented and unique design lowers the total cost of installation and operation for its customers. The company’s wide array of solutions helps customers engage with audiences worldwide. Founded in 2010, Ultravision designed and patented the modular LED display panel, an innovation that fundamentally changed the LED industry by eliminating the need for cabinet displays that are difficult to install and costly to maintain. Ultravision products are manufactured in North Texas. For more details, please visit http://www.ultravisioninternational.com.
Contact:
Charlie Schoenthaler
Email: charlie@vrge.us
Phone: (202) 888-1963
Clear Channel Outdoor Holdings, Inc. Announces Upsize and Pricing of Offering of 9.25% Senior Subordinated Notes Due 2024 by its Subsidiary Clear Channel Worldwide Holdings, Inc.
San Antonio, TX, February 7, 2019 – Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) announced today that its indirect, wholly-owned subsidiary, Clear Channel Worldwide Holdings, Inc. (“Clear Channel Worldwide”), upsized and priced an offering of $2,235.0 million aggregate principal amount of 9.25% Senior Subordinated Notes due 2024 (the “Notes”), an upsize of $35 million over the amount previously announced.
The issuance and sale of the Notes is expected to be completed on February 12, 2019, subject to customary closing conditions.
The Company, its wholly-owned subsidiary Clear Channel Outdoor, Inc., and certain of the Company’s other domestic subsidiaries will guarantee the Notes. The Notes will be unsecured senior subordinated obligations that will rank junior to all of Clear Channel Worldwide’s existing and future senior debt, equally with any of Clear Channel Worldwide’s existing and future senior subordinated debt and ahead of all of Clear Channel Worldwide’s existing and future debt that expressly provides that it is subordinated to the Notes. The guarantees of the Notes will rank junior to all of the guarantors’ existing and future senior debt, equally with any of the guarantors’ existing and future senior subordinated debt and ahead of all of the guarantors’ existing and future debt that expressly provides that it is subordinated to the guarantee of the Notes.
Clear Channel Worldwide intends to use the proceeds from the Notes to redeem all of its outstanding 7.625% Series A and Series B Senior Subordinated Notes due 2020 and satisfy and discharge the indenture governing such notes and to pay fees and expenses related to the offering and the redemption. As previously announced, on February 4, 2019, Clear Channel Worldwide delivered a conditional notice of redemption, calling such notes for payment on March 6, 2019. The redemption is conditioned on the closing of this offering and the notice thereof may be rescinded or amended if necessary.
The Notes and related guarantees are being offered only to persons reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration pursuant to Rule 144A under the Securities Act and to persons outside of the United States in compliance with Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities and foreign securities laws.
This press release is for informational purposes only and shall not constitute an offer to sell nor the solicitation of an offer to buy the Notes or any other securities. The offering is not being made to any person in any jurisdiction in which the offer, solicitation or sale is unlawful.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is one of the world’s largest outdoor advertising companies with over 450,000 displays in 31 countries across Asia, Europe, Latin America and North America. Reaching millions of people monthly, including consumers in 44 of the top 50 U.S. markets, Clear Channel Outdoor enables advertisers to engage with consumers through innovative advertising solutions. Clear Channel Outdoor is pioneering the integration of out-of-home with mobile and social platforms, and the company’s digital platform includes more than 1,200 digital billboards across 28 markets in the U.S. and over 13,000 digital displays in international markets.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements based on current Clear Channel Outdoor Holdings, Inc.’s management expectations. These forward-looking statements include all statements other than those made solely with respect to historical facts and include, but are not limited to, statements regarding the offering, the anticipated terms of the Notes and the anticipated use of the proceeds of the offering. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, whether or not the offering or the redemption will be consummated. Many of the factors that will determine the outcome of the subject matter of this press release are beyond Clear Channel Outdoor Holdings, Inc.’s ability to control or predict. Clear Channel Outdoor Holdings, Inc. undertakes no obligation to revise or update any forward-looking statements, or to make any other forward- looking statements, whether as a result of new information, future events or otherwise.
Contact
For further information, please contact:
Media
Wendy Goldberg
Executive Vice President – Communications (212) 377-1105
Investors
Eileen McLaughlin
Vice President – Investor Relations (212) 377-1116
Clear Channel Outdoor Holdings, Inc. Announces New Post-Emergence Board of Directors
New Board Will Bring Broad, Global Expertise to Position the New Company for Future Growth
New York, NY and San Antonio, TX – February 4, 2019 –Clear Channel Outdoor Holdings, Inc. (NYSE:CCO), a subsidiary of iHeartMedia, Inc. (PINK: IHRTQ), announced today the members selected to serve on its new Board of Directors when it becomes a standalone company upon iHeartMedia’s emergence from its previously announced restructuring process.
In conjunction with, and subject to, confirmation of iHeartMedia’s Plan of Reorganization, Clear Channel Outdoor Holdings’ (CCOH) post-emergence Board will consist of the following Directors, all of whom possess highly relevant knowledge and experience critical to positioning the company for future success:
Ben Moreland (Chair) – W. Benjamin (Ben) Moreland will serve as the lead independent director on the Board of Directors. He is a private investor and retired CEO of Crown Castle, where he remains a member of the Board of Directors. Crown Castle (NYSE: CCI), a leading provider of wireless infrastructure in the US, owns and operates over 40,000 towers and Small Cell facilities, supported by over 60,000 route miles of fiber in key US markets. An S&P 500 Company headquartered in Houston, Texas, Crown Castle has over 4,000 employees in the US. Prior to his retirement, Mr. Moreland served as Executive Vice Chairman from June 2016 through December 2017 and was President and Chief Executive Officer from July 2008 through May 2016. From 2000 through 2008, Mr. Moreland was Chief Financial Officer. Mr. Moreland joined Crown Castle in 1999, after 15 years with Chase Manhattan Bank and predecessor banks, primarily in corporate finance and real estate investment banking.
Mr. Moreland is a former board member and Chairman of the Board of WIA-The Wireless Infrastructure Association and former member of the Executive Board of the National Association of Real Estate Investment Trusts (NAREIT). He also served on the Board of Directors of Calpine Corporation (NYSE: CPN) from 2009 until its privatization in March 2018, and Monogram Residential Trust (NYSE: MORE) from 2016 until its privatization in September 2017. Mr. Moreland is also a former member of the executive board of the Greater Houston Partnership.
Mr. Moreland currently serves on the Board of Houston Methodist Hospital, where he chairs the subsidiary, Methodist Health Centers Board. He is also a member of the Board of the Hope and Healing Center, a comprehensive mental health resource non-profit serving the Houston Community and beyond. He is a member of the University of Texas McCombs School of Business Advisory Council and Chancellor’s Council Executive Committee. He holds a BBA from The University of Texas at Austin and an MBA from The University of Houston.
William Eccleshare – Mr. Eccleshare is the current CEO and Board Chairman of Clear Channel International – the international division of Clear Channel Outdoor. Effective upon iHeartMedia’s emergence from its restructuring, Mr. Eccleshare will become Chief Executive Officer of the new standalone CCOH. Mr. Eccleshare was formerly Chairman and CEO of BBDO Europe, Middle East and Africa (Omnicom), European Chairman of Young and Rubicam and Chairman and CEO of Ammirati Puris Lintas for Northern Europe. He also spent three years as a Partner at McKinsey & Co, leading the firm’s European Branding Practice. Mr. Eccleshare has an MA in History from Trinity College, University of Cambridge.
John Dionne – Mr. Dionne is a Senior Advisor to the Blackstone Group and a Senior Lecturer in the Finance Unit at the Harvard Business School. He is also a director of Caesars Entertainment, Cengage Learning Holdings II, Inc., Momentive Performance Materials, Inc. and Pelmorex Media, Inc. Until he retired from his position as a Senior Managing Director of Blackstone in 2013, Mr. Dionne was most recently Global Head of its Private Equity Business Development and Investor Relations Groups and served as a member of Blackstone’s Private Equity and Valuation Committees. Mr. Dionne originally joined Blackstone in 2004 as the Founder and Chief Investment Officer of the Blackstone Distressed Securities Fund. Mr. Dionne began his career with Price Waterhouse and holds an M.B.A. from the Harvard Business School and a BS degree in Accounting, Economics, and Finance from The University of Scranton.
Lisa Hammitt – Ms. Hammitt is a senior software executive with 25 years of industry experience. As Vice President of Cloud Marketplace and SaaS at IBM, she helps customers leverage Cognitive Computing in the Cloud. Prior to IBM, Ms. Hammitt was a VP of Marketing of Salesforce Community Cloud, where she spearheaded strategy that drove community adoption and reach. Before Salesforce, she headed mergers and acquisitions in Information Management and Cloud Computing at IBM and HP. Ms. Hammitt received a BA in economics and French from UC Berkeley and completed graduate course work in Artificial Intelligence at Stanford University.
Andrew Hobson – Mr. Hobson serves as Partner and Chief Financial Officer at Innovatus Capital Partners, LLC. Prior to joining Innovatus, Mr. Hobson was a senior Financial Executive at Univision for over twenty years. He served as Senior Executive Vice President at Univision Communications Inc. since 2004 and Chief Financial Officer since 2005. Mr. Hobson holds a B.S.E. in both Finance and Accounting, magna cum laude, from University of Pennsylvania – The Wharton School.
Tom King – Mr. King has more than 30 years of experience in the investment banking and financial services industry. Most recently, Mr. King served as Chief Executive Officer of Investment Banking at Barclays and Chairman of the Investment Banking Executive Committee. Mr. King was also a member of the Barclays Group Executive Committee which oversees all of the Barclays plc businesses. Mr. King is an Operating Partner at Atlas Merchant Capital. He holds a BA in Economics from Bowdoin College and an MBA in finance from University of Pennsylvania – The Wharton School.
Joe Marchese – Joe Marchese is President of Advertising Revenue for Fox Networks Group, a role in which he oversees advertising sales, research and innovation for FOX Broadcast, FOX Sports, FS1, FX, FXX and National Geographic. This includes tentpole advertising events like the World Series and Super Bowl. Mr. Marchese was previously co-founder and CEO of true[X], the leader in ad engagement technology, which was acquired by 21st Century Fox in 2015. Prior to co-founding true[X], Joe has spent time as a media executive, management consultant and multiple time entrepreneur. Mr. Marchese is also the Executive Chairman of Human Ventures, a leading New York based start-up studio and venture fund. He is a member of the Board of Trustees of the Paley Center for Media. He also serves on Board of Directors for the non-profits Tribeca Film Institute and Team Rubicon. In 2016, Mr. Marchese was inducted into the American Advertising Federation’s Advertising Hall of Achievement. He graduated from Bentley University in Waltham, Massachusetts with a bachelor’s degree in Economics and Finance.
MT Rainey – British-born Ms. Rainey is a highly respected advertising industry leader in both the UK and the U.S. As SVP Planning Director of Chiat/Day in the U.S. she pioneered the discipline of Account Planning across the U.S. offices, then returned to found Chiat/Day UK as CEO in London. She subsequently founded the highly successful agency Rainey Kelly Campbell Roalfe which was eventually acquired by Y&R, then became Joint CEO of the merged agency, leading it to a top 5 position within 4 years as part of WPP. She was Chairman of and investor in Th_nk Ltd, a digital transformation agency recently sold to EPAM U.S. She also recently completed a six-year term as Non-Executive Director of Channel 4 Television, the latter two years as Deputy Chair. She has previously served as a Board Director on a number of publicly listed UK companies and is currently on the Board of Hays plc.
Jinhy Yoon – Ms. Yoon is an executive vice president and credit analyst at PIMCO covering technology, media and telecom companies. Prior to joining PIMCO in 2010, she was an equity research analyst at J.P. Morgan Securities in San Francisco, focusing on the semiconductor capital equipment sector. Previously, Ms. Yoon covered integrated oil companies and independent refiners as an equity analyst at Bear Stearns and was a corporate attorney with Simpson Thacher & Bartlett in New York. She has 14 years of investment experience and holds a J.D. from Columbia University School of Law and a Bachelor of Business Administration degree from the University of Notre Dame. She is also a retired Certified Public Accountant (CPA).
The post-emergence Board is excited about CCOH’s prospects and looks forward to working with its strong management team to position the Company for future growth. Upon emergence, addressing the capital structure, including reducing leverage, will be a priority and CCOH has a variety of tools to do so.
“The quality of CCOH’s new Board is further validation of the strength of its business,” said Bob Pittman, Chairman and CEO of iHeartMedia, Inc. “Its members have broad and global expertise across advertising and media businesses, telecom, technology, strategy and planning, and financial service — and are leaders who will provide the kind of knowledge and experience critical to positioning CCOH for future growth and success.”
Clear Channel Outdoor Holdings, Inc.’s current Board of Directors will remain in place until iHeartMedia emerges from its restructuring, at which time the new CCOH Board will assume its responsibilities. Until the company exits the restructuring process, Bob Pittman and Rich Bressler will continue their current leadership roles for CCOH, with Mr. Pittman as CEO and Mr. Bressler as Chief Financial Officer.
Forward-Looking Statements
This press release includes “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements contain words such as “may,” “will,” “expect,” “believe,” “would,” “estimate,” “continue,” or “future,” or the negative or other variations thereof or comparable terminology. In particular, they include statements relating to, among other things, the proposed restructuring of iHeartMedia, timing to exit Chapter 11 and future outcomes. These forward-looking statements are based on current expectations and projections about future events. Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is one of the world’s largest outdoor advertising companies with over 450,000 displays in 31 countries across Asia, Europe, Latin America and North America. Reaching millions of people monthly, including consumers in 43 of the top 50 U.S. markets, Clear Channel Outdoor enables advertisers to engage with consumers through innovative advertising solutions. Clear Channel Outdoor is pioneering the integration of out-of-home with mobile and social platforms, and the company’s digital platform includes more than 1,200 digital billboards across 28 markets in the U.S. and more than 14,000 digital displays in international markets. More information is available at ClearChannelOutdoor.com and ClearChannelInternational.com.
# # #
Contact:
iHeartMedia, Inc.
Wendy Goldberg, Executive Vice President – Communications
(212) 377-1105
WendyGoldberg@iheartmedia.com
Clear Channel Outdoor Holdings, Inc. Announces Proposed Private Offering of Senior Subordinated Notes
San Antonio, TX, February 4, 2019 – Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) announced today that its indirect, wholly-owned subsidiary, Clear Channel Worldwide Holdings, Inc. (“Clear Channel Worldwide”), will offer, subject to market and customary conditions, $2,200,000,000 aggregate principal amount of Senior Subordinated Notes due 2024 (the “Notes”) in a private offering that is exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”).
The Company, its wholly-owned subsidiary Clear Channel Outdoor, Inc., and certain of the Company’s other domestic subsidiaries will guarantee the Notes. The Notes will be unsecured senior subordinated obligations that will rank junior to all of Clear Channel Worldwide’s existing and future senior debt, equally with any of Clear Channel Worldwide’s existing and future senior subordinated debt and ahead of all of Clear Channel Worldwide’s existing and future debt that expressly provides that it is subordinated to the Notes. The guarantees of the Notes will rank junior to all of the guarantors’ existing and future senior debt, equally with any of the guarantors’ existing and future senior subordinated debt and ahead of all of the guarantors’ existing and future debt that expressly provides that it is subordinated to the guarantee of the Notes.
Clear Channel Worldwide intends to use the proceeds from the Notes to redeem all of its outstanding 7.625% Series A and Series B Senior Subordinated Notes due 2020 and satisfy and discharge the indenture governing such notes. Clear Channel Worldwide delivered today a conditional notice of redemption, calling such notes for payment on March 6, 2019. The redemption is conditioned on the closing of this offering and the notice thereof may be rescinded or amended if necessary.
The Notes and related guarantees will be offered only to persons reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration pursuant to Rule 144A under the Securities Act and to persons outside of the United States in compliance with Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities and foreign securities laws.
This press release is for informational purposes only and shall not constitute an offer to sell nor the solicitation of an offer to buy the Notes or any other securities. The offering is not being made to any person in any jurisdiction in which the offer, solicitation or sale is unlawful.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is one of the world’s largest outdoor advertising companies with over 450,000 displays in 31 countries across Asia, Europe, Latin America and North America. Reaching millions of people monthly, including consumers in 44 of the top 50 U.S. markets, Clear Channel Outdoor enables advertisers to engage with consumers through innovative advertising solutions. Clear Channel Outdoor is pioneering the integration of out-of-home with mobile and social platforms, and the company’s digital platform includes more than 1,200 digital billboards across 28 markets in the U.S. and over 13,000 digital displays in international markets.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements based on current Clear Channel Outdoor Holdings, Inc.’s management expectations. These forward-looking statements include all statements other than those made solely with respect to historical facts and include, but are not limited to, statements regarding the offering, the anticipated terms of the Notes and the anticipated use of the proceeds of the offering. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, whether or not the offering will be consummated and the terms of the Notes and the size, timing and use of proceeds of the offering. Many of the factors that will determine the outcome of the subject matter of this press release are beyond Clear Channel Outdoor Holdings, Inc.’s ability to control or predict. Clear Channel Outdoor Holdings, Inc. undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Contact
For further information, please contact:
Media
Wendy Goldberg
Executive Vice President – Communications
(212) 377-1105
Investors
Eileen McLaughlin
Vice President – Investor Relations
(212) 377-1116
The Ad Council Kicks off “Project Yellow Light” Scholarship Competition to Prevent Texting & Driving
AT&T’s It Can Wait and Apparent Insurance Join Corporate and Federal Safety Advocates
to Combat Distracted Driving with Student-Created TV, Radio and Billboard Public Service Advertisements (PSAs)
PR Newswire, NEW YORK, NY, January 17, 2019 – Today, the Ad Council and Project Yellow Light announced the opening of the eighth annual Project Yellow Light scholarship competition. The contest invites high school and college students nationwide to create a TV, radio or billboard PSA to educate their peers about the dangers of distracted driving, specifically texting and driving. Submissions are due March 1 (billboard) and April 1 (radio and video), and winners receive scholarship funding and the opportunity for national media exposure for their winning entries.
This year, AT&T’s It Can Wait and Apparent Insurance are supporting the initiative, joining longstanding funding, media distribution and issue expertise partners CBS 2 New York, Clear Channel Outdoor (CCO), iHeartMedia, the National Highway Traffic Safety Administration (NHTSA) and the National Organizations for Youth Safety (NOYS). CBS 2 New York has also created a TV spot to promote the competition, featuring anchor Alex Denis, which can be viewed here.
Project Yellow Light was established in 2007 by the family of Hunter Garner to honor his memory after his death in a car crash at age 16.
“We’re excited to be entering our eighth year of this national competition with our amazing partners; and even more so by the addition of two noteworthy new alliances – AT&T’s It Can Wait and Apparent Insurance,” said Julie Garner, founder of Project Yellow Light. “These relationships will significantly amplify our reach and help us save more lives.”
Key facts about Project Yellow Light 2019:
- Billboard submissions are due March 1; radio and video submissions are due April 1
- High school juniors, seniors, and undergraduate college students are eligible to apply
- All winners receive scholarship money; first-place winners are awarded $5,000 for video and $2,000 for billboard and radio
- Winning submissions may be turned into public service advertisements (PSAs) and distributed nationwide on iHeartMedia broadcast radio stations, Clear Channel Outdoor billboards, and approximately 1,600 TV stations.
For full submission guidelines and official rules, visit ProjectYellowLight.com.
Last year, the contest received more than 1,600 submissions from 49 states and Washington, D.C. The winning TV PSAs can be viewed online here.
Since 2011, Project Yellow Light has partnered with the Ad Council to turn the winning student submissions into PSAs that receive nationwide exposure through 1,600 TV stations, across iHeartRadio broadcast radio stations and over 1,200 Clear Channel Outdoor digital billboards.
“Project Yellow Light makes it possible for young people to develop creative that reaches their peers with this critical message on a national scale,” said Lisa Sherman, President and CEO of the Ad Council. “We’re thrilled to welcome AT&T’s It Can Wait and Apparent Insurance to this extraordinary coalition.”
“Since 2010, our It Can Wait program has raised awareness of the dangers of smartphone use while driving and helped curb these dangerous habits,” said Ryan Luckey, AVP of Corporate Brand Marketing at AT&T. “Project Yellow Light shares this commitment and we look forward to joining and supporting those who are using their voice to combat distracted driving.”
“Apparent Insurance is excited to be a sponsor of the 2019 Project Yellow Light scholarship competition,” said Colleen Benzin, Managing Director of Apparent Insurance. “As an auto insurer designed for parents, by parents, we support the Project Yellow Light mission to engage young adults about the dangers of distracted driving. Our hope is that this partnership leads to safer drivers and safer roads for the families we serve.”
“People who use cellphones more frequently while driving may be riskier drivers in other respects,” said Heidi King, NHTSA Deputy Administrator. “Multiple studies find that drivers increase their risk of a crash when they choose to engage in distracting activities that require them to take their eyes off the road, such as using a handheld cell phone, reading or writing, or using touchscreen menus on a vehicle instrument pane. Some studies find that drivers engage in some type of distracting activity more than 50 percent of the time they are driving.”
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Data Source: https://crashstats.nhtsa.dot.gov/Api/Public/ViewPublication/812603
About Project Yellow Light
Project Yellow Light is a film, billboard and radio scholarship competition in which high school and college students create compelling stories persuading their peers to develop safe driving habits. This project gives students a voice and a role in preventing car crashes — the number one killer of teenagers and young adults in the U.S. Project Yellow Light was created by Julie, Lowell and Alex Garner in memory of their son/brother, Hunter, who died tragically in a car crash in 2007. Each year the winners receive the Hunter Garner Scholarship.
About the Ad Council
The Ad Council is a nonprofit organization with a rich history of marshaling volunteer talent from the advertising and media industries to deliver crucial messages to the American public. Having produced literally thousands of PSA campaigns addressing the most pressing social issues of the day, the Ad Council has effected, and continues to effect, tremendous positive change by raising awareness, inspiring action and saving lives. To learn more about the Ad Council and its campaigns, visit AdCouncil.org, like us on Facebook, follow us on Twitter or view our PSAs on YouTube.
About AT&T
We help family, friends and neighbors connect in meaningful ways every day. From the first phone call 140+ years ago to mobile video streaming, we innovate to improve lives. We have the best network according to America’s biggest test.** We’re building FirstNet just for first responders and creating next-generation mobile 5G. With DIRECTV and DIRECTV NOW, we deliver entertainment people love to talk about. Our smart, highly secure solutions serve over 3 million global businesses – nearly all of the Fortune 1000. And worldwide, our spirit of service drives employees to give back to their communities.
AT&T Communications is part of AT&T Inc. (NYSE:T). Learn more at att.com/CommunicationsNews.
AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information about AT&T products and services is available at about.att.com. Follow our news on Twitter at @ATT, on Facebook at facebook.com/att and on YouTube at youtube.com/att.
© 2018 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners. **Based on GWS OneScore Sept. 2018. Excludes crowd sourced studies.
About CBS 2 NY
WCBS-TV and WLNY-TV are part of CBS Television Stations group, a division of CBS Corporation and one of the largest network-owned station groups in the country. The combined strengths of CBS 2 and WLNY 10/55 provide a strong platform for serving the entire tri-state area.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is one of the world’s largest outdoor advertising companies with over 450,000 displays in 31 countries across Asia, Europe, Latin America and North America. Reaching millions of people monthly, including consumers in 44 of the top 50 U.S. markets, Clear Channel Outdoor enables advertisers to engage with consumers through innovative advertising solutions. Clear Channel Outdoor is pioneering the integration of out-of-home with mobile and social platforms, and the company’s digital platform includes more than 1,200 digital billboards across 28 markets in the U.S. and more than 13,000 digital displays in international markets. More information is available at http://www.clearchanneloutdoor.com.
About Apparent Insurance
Apparent Insurance is making the lives of parents and families easier and safer by delivering a better auto insurance experience. Apparent’s coverage protects families throughout life’s stages with features, benefits, discounts, and services that are tailored to the lives of all parents. Fully backed and secured by parent company, Admiral Group, which oversees over 6 million customers across 7 countries, Apparent Insurance is currently available to consumers across the state of Texas, with additional states being announced soon. Learn more about Apparent Insurance at http://www.apparentinsurance.com and connect on Facebook, Twitter, and Instagram at @ApparentInsurance.
About iHeartMedia
iHeartMedia is the number one audio company in the United States, reaching nine out of 10 Americans every month – and with its quarter of a billion monthly listeners, has a greater reach than any other media company in the U.S. The company’s leadership position in audio extends across multiple platforms including 850 live broadcast stations; streaming music, radio and on demand via its iHeartRadio digital service available across more than 250 platforms and 2,000 devices including smart speakers, digital auto dashes, tablets, wearables, smartphones, virtual assistants, TVs and gaming consoles; through its influencers; social; branded iconic live music events; and podcasts as the #1 commercial podcast publisher globally. iHeartMedia also leads the audio industry in analytics and attribution technology for its marketing partners, using data from its massive consumer base. iHeartMedia is a division of iHeartMedia, Inc. (PINK: IHRTQ). Visit iHeartMedia.com for more company information.
About the National Organizations for Youth Safety
NOYS was originally founded in 1995 as the Traffic Safety Collaboration supported by funding from government agencies, including the Department of Transportation. In 2005, NOYS became a 501(c)(3) organization and incorporated as National Organizations for Youth Safety. With over 100 organizational members – youth-serving nonprofits, businesses and government agencies, NOYS works collectively to address the most prevalent causes of injury and death among teens and young adults in the US. Learn more at www.NOYS.org.
About NHTSA
For more than four decades, the National Highway Traffic Safety Administration (NHTSA) has served as the key federal agency charged with improving safety on our nation’s roadways. As part of the U.S. Department of Transportation, NHTSA is working to reduce traffic-related deaths and injuries by promoting the use of safety belts and child safety seats; helping states and local communities address the threat of distracted, drunk and drug-impaired drivers; regulating safety standards and investigating safety defects in motor vehicles; establishing and enforcing fuel economy standards; conducting research on driver behavior and traffic safety; and providing consumer information on issues ranging from child passenger safety to impaired driving. For more information visit www.nhtsa.gov.
Media Contacts:
Julie Garner
The Martin Agency
804-698-8203
julie.garner@martinagency.com
Margaret Files
Ad Council
212-984-1953
mfiles@adcouncil.org
Jason D. King
Clear Channel Outdoor Americas
212-812-0064
jasondking@clearchannel.com
Isabella Diecidue
NOYS
240-998-1178
idiecidue@noys.org
Clear Channel Airports Wins 5-Year Renewal with Tallahassee International Airport (TLH) for Innovative Media Makeover
State-of-the Art Media Program Will Help Brands Engage with over 730K Passengers Annually as the Airport Paces for Record Growth in 2018
Tallahassee, FL – – Clear Channel Airports (CCA), a brand division of Clear Channel Outdoor (CCO) (NYSE: CCO), and an indirect subsidiary of iHeartMedia Inc., today announced it was awarded a five-year contract expansion with Tallahassee International Airport (TLH). The new partnership began December 1, 2018 and media upgrades begin mid-March 2019. Clear Channel Airports has been the media provider for TLH since 1999.
Tallahassee International Airport has experienced a 12 percent year-over-year growth in passenger traffic, reaching over 730K. Its annualized passenger traffic has increased for seven consecutive months so far in 2018.
The airport was recently named the Commercial Service Airport of the Year by the Florida Department of Transportation and the Federal Aviation Administration delivered TLH a rare perfect score during the airport’s safety inspection. The airport is currently in the midst of a more than $50 million makeover to enhance the airport’s service level and efficiency, which includes an international passenger processing facility to enable flying abroad. The city is home to major industries including education, food processing, government, lumber and printing/publishing.
The new media network at TLH will create a captivating digital network for advertisers to connect and engage with leisure travelers, frequent business travelers and residents. The new digital walls at arrivals and baggage claim will be the first of its kind in an airport the size of TLH. Some of the key details of the new program are as follows:
- Two (2) LED video walls;
- Two (2) double-sided tension fabric displays;
- Four (4) single-sided tension fabric displays; and
- One (1) glass cling.
“As Florida’s capital continues strong economic growth, Tallahassee International Airport is increasingly becoming a strategic choice for brands to activate their advertising campaigns to reach the growing and diverse passenger traffic at the airport,” said Morten Gotterup, President, Clear Channel Airports. “We’ve been TLH’s advertising partner now for almost 20 years, and we look forward to working side by side with their dedicated team to implement a state of the art, cutting edge advertising network to help brands tell their stories in new and innovative ways.”
In addition, a recent Nielsen study shows airport advertising offers consumers a great opportunity to absorb and respond to brand messaging. According to the study, frequent flyers are highly responsive to airport advertising, with 80% noticing the media and 42% taking action that includes visiting a website, going to a store or learning more about a product/brand/service. Nineteen percent of frequent flyers bought a product they saw advertised at the airport. Additionally, airport campaigns are a significant driver of foot traffic, with 84% of frequent fliers likely to visit a restaurant, 50% likely to visit a clothing/accessories/jewelry store and 41% likely to visit a consumer electronics store.
About Clear Channel Airports
Dedicated to airport advertising for close to 45 years, Clear Channel Airports is the premier innovator of contemporary display concepts. The Company, a brand division of Clear Channel Outdoor Americas (NYSE:CCO), one of the world’s largest outdoor advertising companies, currently operates more than 270 airport programs across the globe and has a presence in 28 of the top 50 U.S. markets with major airports. More information can be found on Clear Channel Airports and Clear Channel Outdoor by visiting www.clearchannelairports.com and www.clearchanneloutdoor.com
Follow & Like:
LinkedIn
Twitter
Instagram
Facebook
Read our award-winning blog: http://blog.clearchanneloutdoor.com/
For more information, contact:
Wendy Weatherford
wendyweatherford@clearchannel.com
212.812.0081
Clear Channel Airports Wins 10-Year Partnership with San Diego International Airport (SAN) to Provide Innovative Media Solutions for Advertisers
Contract Includes Cutting-Edge Digital Media for Brands to Engage with More Than 22 Million Passengers Annually
San Diego, CA – Clear Channel Airports (CCA), a brand division of Clear Channel Outdoor (CCO) (NYSE: CCO), an indirect subsidiary of iHeartMedia Inc., today announced it won a 10-year contract with San Diego International Airport (SAN) to provide brands with innovative advertising solutions. The new partnership began Nov. 1, 2018 and media upgrades begin mid-2019. Operated by the San Diego County Regional Airport Authority, SAN is experiencing record-breaking passenger traffic with double-digit passenger growth in the first half of 2018, bringing the airport’s annual passenger count to over 22 million.
“The San Diego County Regional Airport Authority is excited to launch this new partnership with Clear Channel Airports,” said Domenico D’Ambrosio, the Airport Authority’s Vice President of Marketing, Innovation and Chief Revenue Officer. “Together, we plan on creating a dynamic new program that will provide valuable forms of brand engagement and media exposure for our advertisers and community stakeholders. This partnership, along with others, will help deliver on our promise to everyone who comes through SAN that we are committed to creating an efficient, convenient and memorable customer journey and experience.”
Clear Channel Airports’ new partnership with SAN rounds out CCO’s significant advertising presence in the San Diego metropolitan area. In May, CCO announced it won a long-term contract with the San Diego Metropolitan Transit System (MTS). Clear Channel Outdoor currently reaches 99 percent of the San Diego designated marketing area (DMA) on a weekly basis with its Out-of-Home (OOH) assets including; bulletins, posters, buses and transit shelters.
“In today’s on-the-go society, advertisers and business owners want to reach the audiences that matter most to them, at the right time and in the right place throughout the increasingly complex consumer journey,” said Morten Gotterup. “Our presence in San Diego now completes a brand’s drive, walk, fly consumer engagement experience by offering them a 360 approach to connecting with audiences travelling to, and through, the market. We look forward to working with SAN to bring this opportunity to life for advertisers in an aesthetically pleasing way that creates an overall all first-impression worthy of the region.”
SAN is currently celebrating its 90th year of operation. And in 2017, the airport had a record-setting 22 million passengers and had a strong start in 2018, with traffic up 12.1% across the first half of 2018. San Diego was ranked the 30th Best City in the United States by U.S. News & World Report in 2018. The city is a growing tourist and convention destination as host to the iconic annual Comic-Con, and as such, SAN attracts an affluent and diverse set of passengers for brands to reach their target audiences with the new in-airport digital media network.
The new advertising solutions at SAN will create a unified terminal-wide network of assets which complement terminal aesthetics for advertisers to connect and engage with leisure travelers, frequent business travelers and local residents. It also provides flexibility through future terminal construction and expansions. Some key details of the new program include:
- Experiential and interactive media and sponsorship activations
- Energy-efficient, sustainable, environmentally conscious fixtures;
- Terminal-wide vertical digital LCD network; and
- A large-format digital LED arrivals network.
In addition, a recent Nielsen study shows airport advertising offers consumers a great opportunity to absorb and respond to brand messaging. According to the study, frequent flyers are highly responsive to airport advertising, with 80% noticing the media and 42% taking action that includes visiting a website, going to a store or learning more about a product/brand/service. Nineteen percent of frequent flyers bought a product they saw advertised at the airport. Additionally, airport campaigns are a significant driver of foot traffic, with 84% of frequent fliers likely to visit a restaurant, 50% likely to visit a clothing/accessories/jewelry store and 41% likely to visit a consumer electronics store.
About Clear Channel Airports
Dedicated to airport advertising for close to 45 years, Clear Channel Airports is the premier innovator of contemporary display concepts. The Company, a brand division of Clear Channel Outdoor Americas (NYSE:CCO), one of the world’s largest outdoor advertising companies, currently operates more than 270 airport programs across the globe and has a presence in 28 of the top 50 U.S. markets with major airports. More information can be found on Clear Channel Airports and Clear Channel Outdoor by visiting www.clearchannelairports.com and www.clearchanneloutdoor.com
Follow & Like:
LinkedIn
Twitter
Instagram
Facebook
Read our award-winning blog: http://blog.clearchanneloutdoor.com/
For more information, contact:
Wendy Weatherford
wendyweatherford@clearchannel.com
212.812.0081
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