Clear Channel Outdoor Wins Stockholm Transit Tender
Contract Follows Company's Highly Successful Advertising Relationships Built over the Past Year with Major Market Public Transit Systems
Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) today announced that it has won advertising rights to the Stockholm public transit system, furthering its reach and delivery of advertisers' messages to travellers visiting and commuting in major cities. The 10-year contract is effective January 1, 2008.
Clear Channel Outdoor has seen its global transit-based operations grow significantly over the past year. In addition to Stockholm, the company renewed its contract with Chicago Metra Rail in January, extending its relationship with the transit operator for another 15 years. The company's French division announced a five-year contract agreement with the city of Lyon, France, operating 7,000 advertising faces on that city's buses, metro and tramway. Clear Channel Outdoor also announced strategic transit contracts in the San Francisco Bay Area, and in Boston, Milwaukee, Phoenix and Seattle.
"The Stockholm transit contract is one of the largest outdoor advertising contracts in the world and winning this tender was one of our key strategic aims for 2007," said Paul Meyer, Global President and Chief Operating Officer of Clear Channel Outdoor. "International transit operations are a great complement to our existing billboard and street furniture operations."
The new contract includes the Stockholm subway's 100 stations and 800 trains, all the 1900 buses operating throughout the greater Stockholm region, 400 commuter and local trains and all roadside properties of the public transit authority (Stockholms Lokaltrafik). More than two million trips are made in Stockholm's subways and buses each day and the number of travellers is set to increase further as Stockholm introduces congestion charging for cars entering the city this summer.
"Our previous 10-year contract with Stockholm transit experienced a near tripling of advertising revenue, making transit advertising the fastest growing medium next to the internet in Sweden," said Maria Skoglund, General Manager of Clear Channel Sweden.
"We look forward to continued success here, and to the launch of digital media, which will be a key driver for future growth."
About Clear Channel Outdoor
Clear Channel Outdoor, based in Phoenix, Arizona, is the world's largest outdoor advertising company with over 881,000 displays in more than 60 countries across 6 continents. In the United States, the company operates over 155,000 advertising displays and has a presence in 45 of the top 50 Designated Market Areas. It also operates airport, rail, taxi and mall advertising businesses worldwide. Its Spectacolor (U.S.) and DEFI (international) divisions are the global market leaders in spectacular sign displays, including in New York's Times Square. Adshel(TM) is the company's international street furniture division, which operates more than 3,500 municipal advertising contracts worldwide. More information may be found by visiting www.clearchanneloutdoor.com.
Certain statements in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Source: Clear Channel Outdoor Holdings, Inc.
Released July 16, 2007