Exhibit 99.1

Clear Channel Outdoor Reports Fourth Quarter and Full Year 2008 Results

SAN ANTONIO--(BUSINESS WIRE)--March 2, 2009--Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) today reported results for its fourth quarter and year ended December 31, 2008.

Fourth Quarter 2008 Results

The Company reported revenues of $785.5 million in the fourth quarter of 2008, a 16% decrease from the $936.7 million reported for the fourth quarter of 2007. Included in the Company’s revenue is a $55.2 million decrease due to movements in foreign exchange; excluding the effects of these movements in foreign exchange, the revenue decline would have been 10%. See reconciliation of revenue excluding effects of foreign exchange to revenue at the end of this press release.

Clear Channel Outdoor’s operating expenses increased 1% to $626.3 million during the fourth quarter of 2008 compared to 2007. Included in the Company’s fourth quarter 2008 expenses is a $47.6 million decrease due to movements in foreign exchange; excluding the effects of these movements in foreign exchange, growth in expenses would have been 8%. See reconciliation of expenses excluding effects of foreign exchange to expenses at the end of this press release. Also included in the Company’s fourth quarter 2008 operating expenses is $35.5 million of expenses related to the announced restructuring program and approximately $2.2 million of non-cash compensation expense. This compares to non-cash compensation expense in operating expenses of $3.0 million in the fourth quarter of 2007.

Clear Channel Outdoor’s net loss and diluted loss per share were $3.0 billion and $8.53, respectively, during the fourth quarter of 2008. This compares to net income of $106.6 million or $0.30 per diluted share in the fourth quarter of 2007. Clear Channel Outdoor’s fourth quarter 2008 net loss included an approximate $3.2 billion impairment on goodwill and intangible assets; $35.5 million of expenses associated with the restructuring program and $59.8 million due to the impairment of available-for-sale securities. Excluding these items and considering the tax effects, Clear Channel Outdoor’s fourth quarter 2008 net loss would have been $8.5 million or $0.02 per diluted share. See reconciliation of net income (loss) and diluted earnings per share at the end of this release.

The Company’s OIBDAN was $141.2 million in the fourth quarter of 2008, a 52% decrease from the fourth quarter of 2007. The Company defines OIBDAN as net income adjusted to exclude non-cash compensation expense and the following line items presented in its Statement of Operations: Minority interest, net of tax; Income tax benefit (expense); Other (expense) income - net; Equity in earnings of nonconsolidated affiliates; Loss on marketable securities; Interest expense; Other operating income - net; D&A and impairment charges. See reconciliation of OIBDAN to net income at the end of this press release.

Full Year 2008 Results

For the full year, Clear Channel Outdoor reported revenues of $3.29 billion, as compared to revenues of $3.28 billion for the same period in 2007. Included in the Company’s revenue is a $62.6 million increase due to movements in foreign exchange; excluding the effects of these movements in foreign exchange, revenue would have declined 2%.

The Company’s operating expenses increased 9% to $2.5 billion during the year compared to 2007. Included in the Company’s 2008 expenses is a $52.1 million increase due to movements in foreign exchange; excluding the effects of these movements in foreign exchange, growth in expenses would have been 7%. Included in the Company’s 2008 operating expenses is approximately $10.6 million of non-cash compensation expense.


The following information was filed by Clear Channel Outdoor Holdings, Inc. (CCO) on Monday, March 2, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Clear Channel Outdoor Holdings, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Clear Channel Outdoor Holdings, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account