Publishers Note
Clear Channel Outdoor’s response to the filing (‘Legion Letter‘) is below via their official press release. You tell ’em CCO!
CLEAR CHANNEL OUTDOOR HOLDINGS, INC. COMMENTS ON FILING FROM LEGION PARTNERS
SAN ANTONIO, — Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) today issued the following statement in response to a filing from Legion Partners Asset Management LLC (“Legion”).
The Clear Channel Board of Directors and management team always welcome constructive conversations with our shareholders, including Legion. The Board and management are taking meaningful action to enhance the Company’s strategic position and improve its capital structure, including through our ongoing review of alternatives for our European businesses and evaluating a range of other strategic opportunities to enhance value. Our Board remains focused on delivering profitable growth, strengthening our balance sheet, and further demonstrating the operating leverage of our model. The management team and Board are confident in Clear Channel’s strategic direction and will continue to act in the best interests of all shareholders to drive maximum value creation.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. is at the forefront of driving innovation in the out-of-home advertising industry. Our dynamic advertising platform is broadening the pool of advertisers using our medium through the expansion of digital billboards and displays and the integration of data analytics and programmatic capabilities that deliver measurable campaigns that are simpler to buy. By leveraging the scale, reach and flexibility of our diverse portfolio of assets, we connect advertisers with millions of consumers every month across more than 500,000 print and digital displays in 22 countries.
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