Clear Channel Outdoor (NYSE:CCO) Holdings, Inc. (NYSE:CCO), a $707 million market cap outdoor advertising company, has reported a change to its board of directors, according to a recent SEC filing. On January 1, 2025, Mary Teresa Rainey retired from her position on the board and any committees thereof. This change is effective immediately from the date of her notification to the board. According to InvestingPro analysis, the company operates with a significant debt burden and currently shows a FAIR financial health score.
In response to Rainey's departure, the board has decided to reduce its size from eleven to ten directors. This adjustment aligns with the company's Cooperation Agreement with Legion Partners Holdings, LLC and its affiliates. Clear Channel Outdoor's board expressed its gratitude for Rainey's contributions during her service and extended best wishes for her future endeavors. The company manages $7.25 billion in total debt while generating annual revenues of $2.23 billion.
The company, which specializes in outdoor advertising and operates under the standard industrial classification of services-advertising, has its principal executive offices in San Antonio, Texas. Clear Channel Outdoor's common stock is listed on the New York Stock Exchange under the trading symbol CCO.
The company will report its next earnings on March 4, 2025. InvestingPro subscribers have access to over 30 additional financial metrics and key insights about CCO, including detailed analysis of its financial health and valuation status.
In other recent news, Cameco (NYSE:CCJ) Corporation, a substantial global provider of uranium fuel, announced the suspension of production activities at its joint venture, JV Inkai. This decision follows the failure to receive an anticipated extension for submitting necessary Project Documentation to Kazakhstan's Ministry of Energy. The company is currently seeking clarification on the impact of this halt on future production and financial outcomes.
Simultaneously, Clear Channel Outdoor Holdings, an advertising industry player, reported a 6.1% year-over-year increase in Q3 2024 revenue, reaching $559 million, despite a net loss of $32 million. The company also secured a significant 15-year contract with the Metropolitan Transportation Authority (MTA) to manage out-of-home advertising displays in the New York, New Jersey, and Connecticut metro area.
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