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Clear Channel Outdoor Holdings, Inc.'s CEO Discusses Second Quarter Results- Earnings Call Transcript

Stocks in this article: CCO

Most of all, we’ve had industry leadership, global diversification, and constant innovation. We need to leverage the quality and reach of our assets across the company, today and into the future.

Earlier this year, Media and Entertainment launched our new strategic partnerships, national sales, and integrated marketing and sales groups. So now we can offer a groundbreaking constant marketing solution that only Clear Channel can deliver. That’s helping us gain real traction with our major national advertisers, a key objective of our strategy.

Our industry-leading digital radio platform, iHeartRadio recently reached 10 million registered users faster than any other internet service, and it has been one of the major beneficiaries of this growing national advertising success.

This September’s iHeartRadio Music Festival is another example of our ability to leverage our assets. The festival is being sponsored by such national brands as Amazon Kindle Fire, Dish, Macy’s, MGM Resorts International, NBC’s The Voice, and State Farm.

Our Outdoor businesses, the American and international, reach hundreds of millions of people every month, and we will continue to compete for significant advertising contracts that attract new target audiences around the world for our clients.

Our investments in our Outdoor business are also continuing to pay off. In the Americas, over the last 12 months, we have deployed more than 250 digital displays. Our digital installations now total 963.

Internationally, we have recently won several key contracts and tenders including two large advertising contracts with public transportation companies in Norway and Sweden. Thanks to our investments, including our robust sales infrastructure, we are well positioned to continue driving our growth in the future.

Clearly, given the economic environment, we’ll still stay focused on keeping our costs under control. We are working to right size our operations in the regions where economies have continued to deteriorate, while investing selectively to capitalize on opportunities where economies continue to see growth.

Over all, we are encouraged with our progress, and I look forward to keeping you posted on it throughout the year.

Read the rest of this transcript for free on seekingalpha.com

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