Clear Channel Outdoor Company Canada, a part of Clear Channel Outdoor Holdings, Inc. (CCO), recently secured a 10-year contract from City Centre Terminal Corp. for Billy Bishop Toronto City Airport’s passenger terminal for an undisclosed amount.
Effective Sep 1, 2014, Clear Channel will provide the latest innovative and interactive digital media technologies to enhance passenger experience. Under this contract, Clear Channel will install five large-format digital displays throughout the airport terminal, allowing brands to connect with passengers. With these service initiatives, Clear Channel intends to make passengers feel at home and positively impact the traveller experience at every touch-point throughout the airport.
Interactive advertiser displays will be encouraged and the new partnership is likely to augment advertising revenues in the near future. We believe that a better flight experience by customers will lead to bigger market traction and pave the way for growth opportunities. With this contract, Clear Channel further expands its presence in Canadian Airports with Toronto Pearson, Vancouver International and Canadian Regional Airports already a part of its portfolio.
Clear Channel aims to use innovative advertising concepts to expand its reach. At present, the company is concentrating on strengthening its business and expanding its client base. Clear Channel also maintains a sound and flexible balance sheet with ample liquidity to fund key acquisitions to fuel its top-line growth.
Clear Channel is expected to release its second-quarter 2014 results before the market opens on Jul 23. Currently, the Zacks Consensus Estimate for the quarterly earnings is pegged at 3 cents, representing a 50% year-over-year improvement.
Clear Channel currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the industry that are worth a look include National CineMedia, Inc. (NCMI), Stantec Inc. (STN) and Omnicom Group Inc. (OMC), all carrying a Zacks Rank #2 (Buy).
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