Company: CCO
Filing Date: 2025-06-12
Form Type: CORRESP
Source: 0001334978-25-000016
Chunk: 3

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-06-12
Form: CORRESP
Chunk 3
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 manage the business and its associated costs based on this distinction in the accounting literature. Separately presenting revenue and the corresponding expenses on that basis would require an allocation of certain expenses that is neither reflective of how the Company’s business operates, nor is it practicable, and could mislead investors by suggesting distinct leasing and service businesses where none exist. Clear and Transparent Footnote Disclosure As required by ASC 842 and ASC 606, the Company provides clear disclosure of revenue recognized under each such standard in the footnotes to its financial statements (see Note 5). The Company believes these disclosures meet the informational objectives of Rule 5-03, while avoiding investor confusion that might result from disaggregation on the face of the income statement. Conclusion The Company respectfully submits that it derives nearly all its revenue from advertising services constituting a single economic activity, and its current income statement presentation of revenue and direct operating expenses on an aggregated basis, whether classified under ASC 606 or ASC 842, most faithfully reflects its unified business model and management approach. Separate presentation would, in the Company’s view, misrepresent the economic substance of the Company’s operations, would not provide meaningful insight for investors and could mislead users of the financial statements. The Company believes its footnote disclosures provide sufficient transparency and context for evaluating the portion of revenue recognized under ASC 842. In response to the Staff’s comment, to further clarify, the Company proposes to add the following disclosure to the revenue recognition accounting policy set forth in Note 2 to its financial statements in its future Form 10-K filings: Although certain revenue transactions are accounted for in accordance with ASC 842 and others under ASC 606, revenue is presented on an aggregate basis on the Consolidated Statements of Income (Loss), as nearly all revenue is derived from advertising services, and the timing and pattern of revenue recognition are substantively the same under both standards. The Company remains committed to transparent and comprehensive disclosure and welcomes further engagement with the Staff to ensure its reporting continues to meet both regulatory requirements and investor needs. * * * * The Company hopes that the foregoing has been responsive to the Staff’s comment. Should you have any questions relating to any of the foregoing, please feel free to contact the undersigned at (210) 874-2722 or by e-mail at jasondilger@clearchannel.com.

| Sincerely,                                        |
| /s/ Jason A. Dilger                               |
| Jason A. Dilger                                   
 Senior Vice President andChief Accounting Officer |

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