Company: CCO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001334978-25-000008
Chunk: 107

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 107
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 using both digital and printed formats. The Company’s common stock is listed on the New York Stock Exchange under the symbol “CCO.” References in these financial statements to “the Company,” “we,” “us” and “our” refer to Clear Channel Outdoor Holdings, Inc. and its consolidated subsidiaries.Business DevelopmentsHistorically, the Company operated in the U.S., Europe, Latin America and Asia. In December 2021, the Company’s Board of Directors (the “Board”) authorized a review of strategic alternatives for its European businesses, including potential divestitures, as part of a broader strategy to focus on growing its more profitable U.S. operations. In 2023, the Board also authorized the potential divestitures of the Company’s Latin American businesses.In 2023, the Company sold its businesses in Switzerland, Italy and France. On January 8, 2025, the Company entered into an agreement to sell the businesses in its Europe-North segment to Bauer Radio Limited, a subsidiary of Bauer Media Group. The transaction is expected to close in 2025, upon satisfaction of regulatory approvals. On February 5, 2025, the Company completed the sale of its businesses in Mexico, Peru and Chile.The sales processes for the Company’s remaining European and Latin American businesses in Spain and Brazil are ongoing. While the Company cannot guarantee the completion of any transaction, these sales are expected to occur within the next year, subject to the satisfaction of regulatory approvals and other closing conditions, if applicable.Business SegmentsAs of December 31, 2024, the Company operates two reportable segments: America (U.S. operations excluding airports) and Airports (U.S. and Caribbean airport operations), with operations in Singapore reported as “Other.” Refer to Note 4 for additional details.Previously, the Company operated four segments: America, Airports, Europe-North (operations in the U.K., the Nordics, and other northern and central European countries), and Europe-South (operations in Spain and, until their sales in 2023, Switzerland, Italy and France). Operations in Latin America (Mexico, Brazil, Chile and Peru) and Singapore were reported as “Other.”Discontinued OperationsIn 2023, the Company classified its Europe-South segment as discontinued operations and completed the sale of these operations, except for the business in Spain, which remains held for sale. As of December 31, 2024, the Company also classified its Europe-North segment and Latin American businesses as discontinued operations. In