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Legion Pushes Clear Channel to Speed Breakup, Weigh Sale

  • Legion now owns a 5.1% stake in the billboard company
  • Clear Channel Outdoor’s stock is down 42% in past year
Updated on

Activist investor Legion Partners Asset Management is urging billboard operator Clear Channel Outdoor Holdings Inc. to accelerate asset sales and consider selling the entire company to boost its stock price. 

Legion, which has been investor since 2021, wants Clear Channel Outdoor to accelerate the sales process for its operations in Northern Europe and begin a sale of its Latin American business, according to a letter Tuesday to the company’s board.