Citadel Broadcasting Corp, The natrion's third-largest radio broadcasting firm, filed for Chapter 11 bankruptcy protection on Sunday (12-19-09) in an effort to restructure its hefty debt load as it continues to face declining advertising revenue.
The firm owns 224 radio stations & is home to several syndicated hosts including: Don Imus, Rush Limbaugh, Joe Scarborough and Mark Levin.
Much of its debt burden comes from its $ 2.7 billion purchase of ABC radio from Walt Disney Co in 2007.
The entire radio industry faces many major advertising problems and this is not good news for Clear Channel.
Sunday, December 20, 2009
A Wild TIme For Outdoor
The great Outdoor Advertising Industry and business is under siege from all sides.
The new emerging DANGER for property owners leasing to big and small billboard firms is that they will try to take advantage of present conditions and will attempt to pass along their mis management losses by paying less and less for better and better locations. Don't even listen to them!
NEWS OF NOTE:
#1. Media Life on 12-15-09 announed that billboard advertsing revenue is down 17.2% for the the Third Quarter of 2009. This is on top of an 18% slid inthe first and 2rd Quarter of 2009. A drop of 35.2% has to hurt especially those firms with big debt and poor management and a lack of the outdoor business.
#2. Toronto paaeed a new Billboard tax! This first ever muncipal tax is based on advertising revenue! It's now sending shock waves across the advertising world and every City Hall in the US which is desperate for tax revenue. Proeprty Owners review your leases NOW!
#3. The US Supreme Court decined to hear a challenge to the L.A. billboard ban. Thisis very bad news for digital boards The growing "anti-digital billboard movement" is gathering support fromlaw enforcement relative to traffic safety issues.
# 4. Big Billboard FInancial Distress. On 12-18-09 Moody's dropped the bond rating on Clear Channell. Thisis not good news for C.C. who has $22 billion in debt and now wants an additional $750 million debt.
Good News:
Many cash- mega-rich International Outdoor firms have expressed interest in buying all or parts of some billboard firms in the U.S. Expect changes of ownership in 2010!
Some outdoor firms in 2010 willhave to divest itself of assets to stay afloat. Do you have a Right of First Refusal to buy the Billboard Assets ( Structure and all permits) in your lease?
Property owners who lease to billboard or outdoor advertising firms have a great asset! They just don't make good locations anymore.
Sincerely,
Bill McInerney
Do you want to turn your existing outdoor billboard lease into cash? I have serious investors.
WANTED: Prime, high traffic billboard locations anywhere!
Comprehenvise Outdoor-Billboard COnsulting Services for Proprty Owners.
The new emerging DANGER for property owners leasing to big and small billboard firms is that they will try to take advantage of present conditions and will attempt to pass along their mis management losses by paying less and less for better and better locations. Don't even listen to them!
NEWS OF NOTE:
#1. Media Life on 12-15-09 announed that billboard advertsing revenue is down 17.2% for the the Third Quarter of 2009. This is on top of an 18% slid inthe first and 2rd Quarter of 2009. A drop of 35.2% has to hurt especially those firms with big debt and poor management and a lack of the outdoor business.
#2. Toronto paaeed a new Billboard tax! This first ever muncipal tax is based on advertising revenue! It's now sending shock waves across the advertising world and every City Hall in the US which is desperate for tax revenue. Proeprty Owners review your leases NOW!
#3. The US Supreme Court decined to hear a challenge to the L.A. billboard ban. Thisis very bad news for digital boards The growing "anti-digital billboard movement" is gathering support fromlaw enforcement relative to traffic safety issues.
# 4. Big Billboard FInancial Distress. On 12-18-09 Moody's dropped the bond rating on Clear Channell. Thisis not good news for C.C. who has $22 billion in debt and now wants an additional $750 million debt.
Good News:
Many cash- mega-rich International Outdoor firms have expressed interest in buying all or parts of some billboard firms in the U.S. Expect changes of ownership in 2010!
Some outdoor firms in 2010 willhave to divest itself of assets to stay afloat. Do you have a Right of First Refusal to buy the Billboard Assets ( Structure and all permits) in your lease?
Property owners who lease to billboard or outdoor advertising firms have a great asset! They just don't make good locations anymore.
If you have any questions concerning the outdoor billboard business, the "true" value of your location call me at anytime. Remember, with my billboard outdoor advertsing insider experience, I know what the billboard firems don't want you to know! I work only for proeprty Owners.
Sincerely,
Bill McInerney
Do you want to turn your existing outdoor billboard lease into cash? I have serious investors.
WANTED: Prime, high traffic billboard locations anywhere!
Comprehenvise Outdoor-Billboard COnsulting Services for Proprty Owners.
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About Me
- Bill McInerney
- Outdoor Advertising Billboard Consultant with years of proven experience with proven expertise. Site location and permitting experience.
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