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olivLaw · US equity research

Clear Channel Outdoor Holdings, Inc. CCO

Services-Advertising · SIC 7310 · Vertical: Services-Advertising (SIC 7310)

2.42USDunavailable · 1 dayClose 15 Oct 2026

Clear Channel Outdoor is a major out-of-home advertising provider with roadside billboards, street furniture and airport displays, focused on the U.S. market. The company is being taken private through a merger, so its future depends on completing this transaction.

At the close of 15 Oct 2026, Clear Channel Outdoor Holdings, Inc. (CCO) stock was 2.42 USD, with 52-week range 2.42–2.42 USD. Latest reported quarter (Q2 2026): revenue of 438.0 m USD (+8.7% YoY), net income of -5.3 m USD (−155.9% YoY), diluted EPS -0.01 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
unavailable
shares as of 31 Jul 2026
P/E (TTM)
unavailable
Diluted EPS TTM -0.21 · TTM to 30 Jun 2026
E/P (TTM)
-8.84%
TTM to 30 Jun 2026
Dividend yield
unavailable
Beta (2y)
unavailable
52-week range
2.422.42

Price history

Loading chart…

Technical reading

RSI (14)
unavailable
Bollinger (20, 2)
unavailable – unavailable
SMA 50 / 200
unavailable / unavailable
MACD (12, 26, 9)
unavailable / unavailable

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 monthunavailable−1.1%unavailable—
3 monthsunavailable−0.5%unavailable—
6 monthsunavailable+4.4%unavailable—
Year to dateunavailable+12.3%unavailable—
1 yearunavailable+13.5%unavailable−53.5%
3 yearsunavailable+76.4%unavailable−69.6%
5 yearsunavailable+63.7%unavailable—
Max drawdown (1y)
unavailable
Max drawdown (5y)
unavailable
Compound annual growth (5y)
unavailable
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q2 2026 · 30 Jun 2026

Revenue
438.0 m USD
+8.7% YoY
Net income
-5.3 m USD
−155.9% YoY
Diluted EPS
-0.01
−150.0% YoY
net / operating
-1.2% / 20.3%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Revenue375.2 m426.7 m334.2 m402.8 m405.6 m461.5 m373.9 m438.0 m
SG&A63.5 m65.7 m63.7 m65.7 m66.2 m66.8 m66.6 m70.0 m
Operating income66.7 m100.1 m45.0 m77.4 m80.7 m107.5 m39.5 m89.1 m
Depreciation & amortisation46.2 m43.2 m43.0 m43.3 m43.9 m44.7 m41.5 m41.2 m
Interest expense99.7 m100.1 m99.4 m96.0 m101.1 m99.2 m98.5 m99.0 m
Pre-tax income-33.7 m910.0 k-54.1 m10.9 m-64.0 m8.5 m-58.3 m-9.7 m
Income tax-5.7 m2.0 m1.2 m4.5 m-14.4 m13.7 m-8.8 m299.0 k
Net income-32.5 m-17.9 m62.5 m9.5 m-60.1 m8.0 m-48.6 m-5.3 m
Diluted EPS-0.07-0.040.130.02-0.120.02 ≈-0.10-0.01
Operating cash flow54.5 m ≈29.3 m14.9 m-12.6 m ≈56.2 m ≈56.3 m3.2 m44.6 m ≈
Capex33.5 m ≈57.1 m25.5 m16.6 m ≈14.8 m ≈26.0 m16.0 m19.3 m ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year20182019202020212022202320242025
Revenue2.7 bn2.7 bn1.9 bn1.8 bn1.4 bn1.4 bn1.5 bn1.6 bn
Revenue YoY+5.1%−1.4%−30.9%−4.6%−21.9%+3.8%+5.0%+6.6%
Net income-218.2 m-363.3 m-582.7 m-433.8 m-96.6 m-310.9 m-179.3 m19.9 m
Net income YoYunavailableunavailableunavailableunavailableunavailableunavailableunavailableunavailable
Diluted EPS-0.60-0.88-1.25-0.93-0.20-0.65-0.370.04
Diluted EPS YoYunavailableunavailableunavailableunavailableunavailableunavailableunavailableunavailable
net %-8.0%-13.5%-31.4%-24.5%-7.0%-21.7%-11.9%1.2%
Free cash flow-23.8 m-17.9 m-262.0 m-281.5 m-44.7 m-135.3 m-62.6 m32.0 m

Reported results vs expectations

Loading…

Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
190.0 m USD
Financial debt
5.1 bn USD
Net debt
4.9 bn USD
Equity
-3.4 bn USD
Total assets
3.8 bn USD
Debt / equity
unavailable
Current ratio
1.28x
ROE
unavailable
ROA
0.5%
FCF margin
2.0%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
1.4 bn
2024
1.5 bn
2025
1.6 bn

SEC (XBRL)· 26 Feb 2026verified

SG&A
2023
235.5 m
2024
252.9 m
2025
262.4 m

SEC (XBRL)· 26 Feb 2026verified

Operating income
2023
216.8 m
2024
279.2 m
2025
310.6 m

SEC (XBRL)· 26 Feb 2026verified

Depreciation & amortisation
2023
196.8 m
2024
174.0 m
2025
175.0 m

SEC (XBRL)· 26 Feb 2026verified

EBITDA
2023
413.6 m ≈
2024
453.2 m ≈
2025
485.6 m ≈

SEC (XBRL)· 26 Feb 2026derived

Interest expense
2023
398.1 m
2024
401.5 m
2025
395.6 m

SEC (XBRL)· 26 Feb 2026verified

Pre-tax income
2023
-183.1 m
2024
-133.1 m
2025
-98.8 m

SEC (XBRL)· 26 Feb 2026verified

Income tax
2023
-23.7 m
2024
-9.4 m
2025
4.9 m

SEC (XBRL)· 26 Feb 2026verified

Net income
2023
-310.9 m
2024
-179.3 m
2025
19.9 m

SEC (XBRL)· 26 Feb 2026verified

Diluted EPS
2023
-0.65
2024
-0.37
2025
0.04

SEC (XBRL)· 26 Feb 2026verified

Weighted average diluted shares
2023
481.7 m
2024
487.7 m
2025
495.4 m

SEC (XBRL)· 26 Feb 2026verified

Balance sheet · USD

Cash
2023
171.8 m
2024
109.7 m
2025
190.0 m

SEC (XBRL)· 26 Feb 2026verified

Receivables
2023
314.9 m
2024
344.1 m
2025
371.4 m

SEC (XBRL)· 26 Feb 2026verified

Inventories
2023
—
2024
—
2025
—

SEC (XBRL)· 25 Feb 2021verified

Current assets
2023
957.4 m
2024
1.7 bn
2025
793.2 m

SEC (XBRL)· 26 Feb 2026verified

Property, plant & equipment, net
2023
489.7 m
2024
480.0 m
2025
441.8 m

SEC (XBRL)· 26 Feb 2026verified

Goodwill
2023
507.8 m
2024
507.8 m
2025
507.8 m

SEC (XBRL)· 26 Feb 2026verified

Intangibles (excl. goodwill)
2023
741.6 m
2024
666.7 m
2025
588.3 m

SEC (XBRL)· 26 Feb 2026verified

Total assets
2023
4.7 bn
2024
4.8 bn
2025
3.8 bn

SEC (XBRL)· 26 Feb 2026verified

Accounts payable
2023
44.6 m
2024
38.8 m
2025
32.1 m

SEC (XBRL)· 26 Feb 2026verified

Short-term debt
2023
404.0 k
2024
348.0 k
2025
312.0 k

SEC (XBRL)· 26 Feb 2026verified

Long-term debt
2023
5.6 bn
2024
5.7 bn
2025
5.1 bn

SEC (XBRL)· 26 Feb 2026verified

Current liabilities
2023
883.7 m
2024
1.3 bn
2025
618.1 m

SEC (XBRL)· 26 Feb 2026verified

Total liabilities
2023
8.2 bn
2024
8.4 bn
2025
7.2 bn

SEC (XBRL)· 26 Feb 2026verified

Equity
2023
-3.5 bn
2024
-3.6 bn
2025
-3.4 bn

SEC (XBRL)· 26 Feb 2026verified

Cash flow · USD

Operating cash flow
2023
31.3 m
2024
79.7 m
2025
114.9 m

SEC (XBRL)· 26 Feb 2026verified

Capex
2023
166.6 m
2024
142.4 m
2025
82.9 m

SEC (XBRL)· 26 Feb 2026verified

Free cash flow
2023
-135.3 m ≈
2024
-62.6 m ≈
2025
32.0 m ≈

SEC (XBRL)· 26 Feb 2026derived

Investing cash flow
2023
-119.6 m
2024
-155.9 m
2025
523.3 m

SEC (XBRL)· 26 Feb 2026verified

Financing cash flow
2023
45.6 m
2024
-8.2 m
2025
-598.3 m

SEC (XBRL)· 26 Feb 2026verified

Dividends paid
2023
—
2024
—
2025
—

SEC (XBRL)· 25 Feb 2021verified

Computed indicators

Growth

Revenue growth (YoY)
6.6%
computed by olivLawFY 2025
Revenue CAGR 3Y
5.1%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
-2.9%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
11.3%
computed by olivLawFY 2025
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
unavailable
the base of the ratio is not positive
FCF growth (YoY)
unavailable
the base of the ratio is not positive

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
29.1%
computed by olivLawTTM to 30 Jun 2026
EBIT margin
18.9%
computed by olivLawTTM to 30 Jun 2026
Net margin
-6.3%
computed by olivLawTTM to 30 Jun 2026
FCF margin
5.0%
computed by olivLawTTM to 30 Jun 2026

Returns

ROE
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
ROA
-2.8%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROIC
unavailable
equity is negative: buybacks shrink the invested capital and ROIC would come out large without meaning anything
ROCE
10.1%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
4.9 bn USD
computed by olivLawbalance sheet at 30 Jun 2026
Net debt / EBITDA
10.1x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Debt / equity
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
Interest coverage
0.8x
computed by olivLawTTM to 30 Jun 2026

Liquidity

Current ratio
1.3x
computed by olivLawbalance sheet at 30 Jun 2026
Quick ratio
unavailable
input data missing
Cash ratio
0.3x
computed by olivLawbalance sheet at 30 Jun 2026

Cash

Operating cash flow
160.4 m USD
computed by olivLawTTM to 30 Jun 2026
Capital expenditure
76.1 m USD
computed by olivLawTTM to 30 Jun 2026
Free cash flow
84.3 m USD
computed by olivLawTTM to 30 Jun 2026
FCF conversion
unavailable
insufficient data
Cash conversion
32.9%
computed by olivLawTTM to 30 Jun 2026

Efficiency

Days sales outstanding
76 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
unavailable
input data missing
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
input data missing
P/E (TTM)
unavailable
input data missing
Earnings yield
unavailable
input data missing
P/B
unavailable
input data missing
P/S
unavailable
input data missing
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
unavailable
input data missing
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 5 of at least 6
  • score weight coverage: 35.4% of at least 60%

A scoring methodology on indicators and valuation, not investment advice.

Closing price

2.42 USD

15 Oct 2026Source: olivLaw, closing series

Market cap: unavailable

The price is older than the freshness threshold; market indicators are unavailable.

Key indicators

Market capitalisation
unavailable
input data missing
P/E (TTM)
unavailable
input data missing
P/B
unavailable
input data missing
EV/EBITDA
unavailable
input data missing
ROE
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
Net margin
-6.3%
computed by olivLawTTM to 30 Jun 2026
Revenue growth (YoY)
6.6%
computed by olivLawFY 2025
Dividend yield
unavailable
input data missing

Coverage and freshness

31/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Share count (cover of the latest filing), as of: 31 Jul 2026
Source: SEC (XBRL)published 05 Aug 2026
verified 2459derived 98

Score by group

35% · Insufficient data

Estimated value range

Low
1.08
USD per share
Mid
1.24
USD per share
High
1.46
USD per share
Price: unavailable
Potential to the central value: unavailable (value / price − 1)
Margin of safety: unavailable (1 − price / value)
Agreement between methods: single method · 1 methods used · 1 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 1.08 – 1.46 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/EBITDAunavailable · not enough peers
  • Peers: P/Eunavailable · the base of the ratio is not positive
  • Dividend discount (DDM)1.08 – 1.46 (Mid 1.24)
Multiple comparisons use the SIC vertical: Services-Advertising (SIC 7310)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality-6.3%62 (vs peers)18%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growth5.1%43 (on a fixed band)24%
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheet10.1x0 (on a fixed band)29%
Interest coverage · Balance sheet0.8x0 (on a fixed band)18%
Current ratio · Balance sheet1.3x38 (on a fixed band)12%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuationunavailableunavailable—
Shareholder yield (distributions) · Returnsunavailableunavailable—
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet8/100 · 3/3 factors with a value
  • Growth· partial43/100 · 1/2 factors with a value
  • Quality· partial62/100 · 1/3 factors with a value
  • Returns· partialunavailable · 0/2 factors with a value
  • Valuation· partialunavailable · 0/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (CCO). Latest full fiscal year: 2025; data up to 2026-06-30.

Figures computed from the financial statements: revenue 1.6 bn USD in 2025; YoY growth 6.6%; net margin -6.3%; net debt/EBITDA 10.1x.

The estimated value range is 1.08–1.46 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. The range is the median of the methods' low, central and high values, not a probability interval.

Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.

What contradicts it

  • Net debt / EBITDA: 10.1x
  • Interest coverage: 0.8x

Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).

Versus the vertical median

Services-Advertising (SIC 7310) · same industry (4-digit SIC) · compared with 13 companies

Multiples and returns vs the median

P/E
—
vertical median —
EV/EBITDA
—
vertical median —
P/S
—
vertical median 0.4x
P/B
—
vertical median 0.5x
ROE
—
vertical median -33.6%
Net margin
-6.3%
vertical median -9.4%
above median
EBIT margin
18.9%
vertical median -11.6%
above median
Revenue YoY
6.6%
vertical median -0.9%
above median
Net debt/EBITDA
10.1x
vertical median —
Dividend yield
—
vertical median —

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
CCOClear Channel Outdoor Holdings, Inc.1.2 bn——-6.3%+6.6%unavailable / unavailable
MNTNMNTN, Inc.170.5 m13.919.7%18.0%+28.6%−24% / unavailable
EDHLEverbright Digital Holding Ltd.161.3 m—-70.8%-120.6%−32.6%−56% / unavailable
NCMINational Cinemedia, Inc.147.7 m—-2.2%-3.1%unavailable−64% / −61%
FLNTFluent, Inc.107.1 m—-170.5%-11.5%−18.0%+90% / +9%
THRYThryv Holdings, Inc.57.8 m—-7.6%-2.3%−4.7%−77% / −93%
TZOOTravelzoo54.5 m191.4—0.5%+9.3%−25% / −47%
IZEAIZEA Worldwide, Inc.40.8 m—-5.1%-9.4%−12.9%−53% / −3%
TNMGTNL Mediagene8.2 m—-155.9%-175.3%+35.3%−93% / −100%
INUVInuvo, Inc.7.3 m—-43.9%-8.6%+2.9%−85% / −85%
PSQHPSQ Holdings, Inc.6.5 m—-269.3%-132.7%+81.1%−90% / −98%
STFSStar Fashion Culture Holdings Limited6.3 m—-39.9%-13.7%+83.7%−8% / unavailable
ANGIAngi Inc.——-27.3%-23.8%−13.0%−40% / −70%
IBTAIbotta, Inc.0—-5.7%-4.5%−6.8%+164% / unavailable

1- and 3-year price returns: for CCO from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Scenarios are not available. input data missing

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

In brief

Clear Channel Outdoor is a major out-of-home advertising provider with roadside billboards, street furniture and airport displays, focused on the U.S. market. The company is being taken private through a merger, so its future depends on completing this transaction 12.

SWOT

Strengths

  • The company operates a portfolio that is hard to replicate, protected by regulation and exclusive contracts, with a high share of digital displays in revenue.
  • The proprietary RADAR data platform and programmatic tools give it measurement and sales advantages with advertisers.
  • Refinancing and sales of international assets extended debt maturities and reduced near-term refinancing risk.

Weaknesses

  • Debt and interest costs remain high, which limits financial flexibility.
  • Site lease costs for display locations are large and rise with revenue, pressuring margins.
  • The company depends heavily on the U.S. market and a few segments, increasing exposure to local developments.

Opportunities

  • Expanding digital displays and programmatic advertising could attract new categories of advertisers.
  • Growing airport traffic and major city traffic could support revenue in the Airports segment.
  • Corporate cost reduction through automation and zero-based budgeting could improve profitability.

Threats

  • A cut in advertising spending during an economic slowdown could quickly affect revenue.
  • Regulatory limits and permitting procedures could slow digitization in certain markets.
  • Trade tensions and tariffs can raise the cost of materials and equipment needed for displays.

Risks

  • Risk the merger does not completehigh

    Closing depends on shareholder and regulatory approvals, including CFIUS review. If the deal fails, the share price could decline and the company could be required to pay a termination fee 1.

  • Operating restrictions during the merger periodmedium

    Until closing, the company must run its business in the ordinary course, which may limit investment and strategic decisions 12.

  • Debt and interest burdenhigh

    Interest payments are significant and borrowing costs remain elevated, reducing financial flexibility 13.

  • Exposure to air travel demandmedium

    The Airports segment depends on passenger volumes, which can be affected by trade policy and economic conditions 1.

  • Supply chain costslow

    Tariffs and geopolitical tensions can raise the cost of screens, steel and electrical components 12.

Investment thesis

What would need to be true (bull case)

  • If the merger completes, shareholders receive a fixed cash amount, and the company can operate without the pressures of a public market.
  • Growth in digital revenue and in the Airports segment shows the business model can generate above-average revenue.
  • Sales of international assets and debt refinancing could improve the capital structure in the coming period.

What would break the thesis

  • If the merger fails, the shares could lose value, and the company could remain with high debt and operating restrictions.
  • First-half revenue benefited from temporary events, and a return to normal demand could slow growth.
  • Rent and interest costs could limit margins even as revenue grows.

What to watch

  • Closing of the merger with the Mubadala Capital consortium and CFIUS approvalsQ3 2026
  • Use of Spanish sale proceeds to reduce debt2026
  • Interest payments and debt maturities due in 2027 and 20282027
  • Trend in digital revenue and Airports segment after major eventsQ3 2026

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

The business

Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) sells advertising space on out-of-home displays it owns or operates, including roadside billboards, street furniture and airport displays, in digital and printed formats. Over recent years it exited most international operations, so its core business is now in the U.S. 1. Consolidated revenue reached 1,604.14 million USD in 2025, and digital revenue represented 44.1% of the total 1.

On February 9, 2026, the company agreed to a merger with an entity controlled by an investor consortium associated with Mubadala Capital and TWG Global. Shareholders receive 2.43 USD in cash per share, and closing is expected by the end of the third quarter of 2026, subject to regulatory approvals 13. If the transaction completes, the shares will no longer trade on any public market 1.

Market context

The company cites projections that U.S. OOH advertising revenue will grow at a 4.0% compound annual rate from 2026 to 2030, and digital OOH at 9.0% over the same period 1. OOH accounted for 2.3% of total U.S. advertising spend in 2025 1, suggesting room for growth if its share rises. Regulatory and exclusive-contract barriers protect the position of existing operators 1.

Market growth also depends on operators' ability to convert displays to digital formats, a process conditioned by local permitting 1. If advertising demand weakens with the economy, revenue could be affected, although demand remained relatively resilient in the first half of 2026 2.

Trends

  • Digitization of displaystailwind

    Digital displays generate higher revenue per structure than printed ones, and the company is expanding them through conversions and new installations 1. If the pace of digitization holds, revenue could keep growing faster than the average.

  • Demand from major eventsmixed

    Revenue in the first half of 2026 benefited from the FIFA World Cup and Super Bowl LX 2. Such effects are temporary and could reverse in periods without major events.

  • Site lease costsheadwind

    Site lease expenses for display locations rise along with revenue, which limits margin expansion 12. The company reported that higher rent was a main driver of rising direct costs.

  • Macroeconomic and tariff uncertaintyheadwind

    Inflation and trade tariffs create pressure on material and equipment costs, and elevated borrowing costs persist 12. If these pressures intensify, margins could be affected.

Competitive position

The U.S. OOH advertising market is fragmented and competitive, with other large operators such as Lamar Advertising Company and Outfront Media Inc., as well as numerous regional and local participants 1. Competition rests on audience reach, location quality and the ability to deliver measurable results 1.

The company also competes with other advertising forms, including digital media, linear television, radio, print and direct mail 1. Over the long term, its position depends on its ability to win budgets moving away from these channels.

  • Lamar Advertising CompanyLAMR

    Large U.S. billboard operator, named as a principal competitor in the official filing.

  • Outfront Media Inc.OUT

    Major U.S. out-of-home advertising operator, cited as another large competitor.

  • Regional and local operators

    Numerous smaller participants in local markets competing on contracts and regional reach.

  • Digital platforms and traditional media

    Search, social media, linear television, radio and print, which compete for the same advertising budgets.

News & filings

In the press

The latest news item in our archive is from 13 Sept 2026; the newest SEC filing is from 16 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

SEC filings

  • Item 5.01 · Financial statements and exhibits
  • Current report14 Oct 2026
    Material agreement · Termination of a material agreement · Acquisition or disposition of assets · Creation of a direct financial obligation · Item 2.04 · Delisting notice · Item 3.03 · Item 5.01 · Departure or appointment of officers · Amendments to articles or bylaws · Regulation FD disclosure · Financial statements and exhibits
  • Current report01 Oct 2026
    Regulation FD disclosure
  • Quarterly report05 Aug 2026
  • Current report05 Aug 2026
    Results of operations · Financial statements and exhibits
  • Current report18 May 2026
    Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
  • Current report12 May 2026
    Shareholder vote
  • Quarterly report06 May 2026
  • Current report06 May 2026
    Results of operations · Financial statements and exhibits
  • Current report13 Apr 2026
    Material agreement · Regulation FD disclosure · Financial statements and exhibits

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Clear Channel Outdoor Holdings, Inc. · 26 Feb 2026
  2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Clear Channel Outdoor Holdings, Inc. · 05 Aug 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / Clear Channel Outdoor Holdings, Inc. · 05 Aug 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.