San Antonio, TX, March 5, 2019 – Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) today reported financial results for the fourth quarter and year ended December 31, 2018.
“Throughout 2018 favorable trends in the out-of-home sector, especially in the U.S., have combined with our strategic initiatives to deliver growth across our businesses,” said Bob Pittman, Executive Chairman and Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. “Our commitment to creating smarter out-of-home advertising solutions by expanding our innovative assets, providing data-backed insights and empowering our sales teams are generating superior results for our advertising partners. We believe these strategic investments will provide Clear Channel Outdoor’s experienced new Board of Directors and strong leadership team with the foundation for future growth and success when it becomes a standalone public company.”
“We are pleased to report consolidated revenue, operating income, and adjusted OIBDAN increased for the full year, including the fourth quarter,” said Rich Bressler, Chief Financial Officer of Clear Channel Outdoor Holdings, Inc. “We believe the steps we have taken to strengthen Clear Channel Outdoor’s operations through the investments in our strategic initiatives and our financial discipline led to the strong results this year and the recent successful refinancing of the $2.2 billion of Senior Subordinated Notes.”