Clear Channel Outdoor swings to loss

Clear Channel Outdoor Holdings swung to a loss in the first quarter and says it is scaling back on its digital plans as revenues slumped amid the “sluggish” economy.

The company says net losses totalled $87.9m in the three months ended March 31 down from a $88.9m (£58.7m) profit in the first quarter of last year.

Revenues dipped 25% to $582m (£384m) while international revenues, including the UK, crashed 29% to $312m (£206m).

The quarterly loss was also driven by $6.9m (£4.5m) in restructuring charges while first quarter figures last year included gains from the sale of a South African business.

Clear Channel Outdoor is the latest outdoor company to report first quarter declines. Last week, CBS Outdoor swung to a loss and saw revenues dip 24% while JCDecaux reported an 11.9% drop in revenues in the first quarter.

Paul J Meyer, president and chief executive officer of Clear Channel Outdoor Holdings, says it is temporarily scaling back its digital billboard deployment plans due to the restructuring costs and “weakness in advertising demand”.


BAA and JCDecaux to renegotiate airport deal

Marketing Week

BAA and JCDecaux have ended their existing pan-airport outdoor advertising space agreement following changes to BAA’s portfolio. Airport owner BAA has had to sell Gatwick Airport following a recent Competition Commission report and is looking at the structure of its business. BAA and JCDecaux Airport state that they have jointly agreed to terminate their existing […]

Marketing Society invites digital to the top table

Marketing Week

The Marketing Society, the 50-year-old institution of senior and board-level marketers, has launched a Digital Network in an attempt to help blue-chip companies develop their digital marketing strategies. The move has been viewed as a significant step towards digital media achieving its long-desired place at the top table of marketing decision making. The Digital Network […]

The Sun names interim marketer

Marketing Week

Director of marketing for The Sun and News of the World Allan Maccaskill has resigned and his responsibilities are to be taken up in the short term by former BBC marketer Kathy McAllister. The changes have been confirmed and Maccaskill’s departure comes after only three months in the role. He took up responsibilities previously handled […]


    Leave a comment