Writing about billboards & OOH
Transactions & Deals
On February 9, 2026, Clear Channel Outdoor Holdings (NYSE: CCO) agreed to be taken private by Mubadala Capital and TWG Global in a $6.2 billion all-cash transaction. Shareholders to receive $2.43 per share, representing a 71% premium to CCO's "unaffected" share price of $1.
Industry News
Welcome to the monthly Public OOH Valuations report. Each month, this segment breaks down the financials of the largest publicly traded out-of-home companies in the U.S. — stock prices, EBITDA multiples, leverage, and whether the market is pricing them right. This month covers all three: Lamar Advertising (LAMR), OUTFRONT Media
Digital Signs
Most operators point to the build cost when explaining why they haven’t gone digital. The upfront investment is higher. But on the right location, the additional cash flow more than offsets it. The numbers make that clear. Why Digital Wins on Operations With static, one face supports one advertiser.
Financial Analysis
If you ask most business brokers how to value a company, they’ll talk about a multiple of EBITDA. EBITDA is fine for comparing generic businesses, but it bakes in how you choose to run the operation. In out-of-home, billboards are valued on a multiple of billboard cash flow (BCF)