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Clear Channel Outdoor Set for Spin-Off

By OOH TODAY believes all voices, not just the loudest, must be heard Last updated Dec 24, 2018

Spin-Off of Outdoor Advertising Business

Not a big surprise is this headline from ‘billboard,‘ the magazine, read the article here⇒

‘iHeartMedia Sets Plan for Spin-Off of Outdoor Advertising Business’

The summary of the story, according to ‘billboard‘, iHeart has a plan in place to create an independent company of the Clear Channel Outdoor (CCO) side.

The question is, How?
It appears the answer is split to restructure. But once CCO is free of iHeart a few more possibilities exist including sale, going IPO as OUTFRONT Media did in separating from CBS. Will CCO, about to be ‘free’, still sell as was rumored 6 months ago? The thinking is a spun-off company is expected to be worth more as independent entity.

Bloomberg speculates CCO becomes a takeover target and per S&P Global Ratings Analysts, JCDecaux, Lamar and Outfront are ‘natural acquirers.’ Read it here⇒ New Suitors May Come Calling After iHeart and Clear Channel Get Divorced

The restructuring process is scheduled to be complete in the new year.

William Eccleshare, London-based, will become CEO of CCOH. Scott Wells will continue as CEO of Clear Channel Outdoor Americas, reporting to Eccleshare.

iHeartMedia chairman and CEO Bob Pittman said it made strategic sense for the two advertising platforms –one radio, one billboards — to split, given there is little “strategic overlap” between the two.

“We believe that the separation of the two businesses makes strategic and financial sense, and will allow each company to better achieve their individual missions,” said Pittman. “Although both businesses are powerful advertising platforms, they each have valuable but different touch points within the advertising community and pursuing separate, highly targeted strategies will unlock their full potential as freestanding companies.”

radio has little common ground with #OOH.

iHeart, owns and operates 858 radio stations in 150 markets, says radio has little common ground with #OOH. Another opinion supporting our viewpoint and prediction, OOH and broadcast do not work well together under one company. Is any one but Global in the UK, standing their ground opposing that point?

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2 Comments

John Mulholland says 4 years ago

Radio and OOH don’t work well together because they don’t sell them as a partnership. Being a broadcast major and in OOH for over 25 years I have come up with several ideas how these two medias and complement and compliment each other. It’s not an advertising war…..It should be a partnership. I my advertising seminars I teach do THREE different mediums at THREE different times.

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Bill Board says 4 years ago

We will be watching Global with great anticipation of their newly created ‘partnership’ of OOH and Radio.
Perhaps UK is in your travel/career plans Mr. Mulholland? Thank you for your comments

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Clear Channel Outdoor Set for Spin-Off

Spin-Off of Outdoor Advertising Business

‘iHeartMedia Sets Plan for Spin-Off of Outdoor Advertising Business’

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