News

Clear Channel Outdoor enters Romanian market

June 25, 2007

PHOENIX, Ariz. — Clear Channel Outdoor announced it has acquired a controlling stake in Klass Advertising, the Romanian market leader in banner and neon advertising.

"This acquisition is an important strategic step in expanding Clear Channel Outdoor's reach in Eastern Europe," said Paul Meyer, global president of Clear Channel Outdoor. "It is a great complement to our growing businesses in Poland, the Baltics and Russia."

The fast-growing Romanian outdoor advertising market is forecast to experience further growth as a result of the country's entrance into the European Union this year. Klass is well positioned to benefit from this growth with its national networks of banners placed at premium locations in Bucharest and all other major Romanian cities, as well as prestigious neon locations in the center of Bucharest.

Clear Channel Outdoor is the world's largest outdoor advertising company with over 973,000 displays in more than 60 countries across 6 continents. In the United States, the company operates more than 167,000 advertising displays and has a presence in 49 of the top 50 Designated Market Areas. It also operates airport, rail, taxi and mall advertising businesses worldwide.