April 30, 2018 / 8:48 PM / 3 months ago

BRIEF-Clear Channel Outdoor Holdings Reports Qtrly Consolidated Revenue Of $729.1 Mln Vs $722.6 Mln

April 30 (Reuters) - Clear Channel Outdoor Holdings Inc :

* CLEAR CHANNEL OUTDOOR HOLDINGS, INC. REPORTS RESULTS FOR 2017 FOURTH QUARTER AND FULL YEAR

* CLEAR CHANNEL OUTDOOR HOLDINGS INC QTRLY CONSOLIDATED REVENUE $729.1 MILLION VERSUS $722.6 MILLION

* CLEAR CHANNEL OUTDOOR HOLDINGS INC QTRLY CONSOLIDATED OPERATING INCOME $89.6 MILLION, DOWN 64.3 PERCENT

* CLEAR CHANNEL OUTDOOR HOLDINGS INC - RECOGNIZED A LOSS OF $855.6 MILLION ON DUE FROM IHEARTCOMMUNICATIONS NOTE DURING Q4 OF 2017

* CLEAR CHANNEL OUTDOOR HOLDINGS INC - AS OF DECEMBER 31, 2017, WE HAD NO BORROWINGS UNDER REVOLVING PROMISSORY NOTE TO IHEARTCOMMUNICATIONS

* CLEAR CHANNEL OUTDOOR HOLDINGS -DURING INVESTIGATION 3 BANK ACCOUNTS WERE OPENED IN NAME OF CLEAR MEDIA ENTITIES, WHICH WERE NOT AUTHORIZED

* CLEAR CHANNEL OUTDOOR HOLDINGS - ERRORS FROM DEFICIENCIES IDENTIFIED AT CO’S CHINA BUSINESS ARE NOT MATERIAL TO FINANCIAL STATEMENTS REPORTED

* CLEAR CHANNEL OUTDOOR HOLDINGS INC- MATTERS DURING THE COURSE OF SPECIAL INVESTIGATION HAVE BEEN REFERRED TO POLICE IN CHINA FOR INVESTIGATION

* CLEAR CHANNEL OUTDOOR HOLDINGS INC - DETERMINED THAT CHINA BUSINESS’ CONTROL DEFICIENCIES CONSTITUTE A MATERIAL WEAKNESS

* CLEAR CHANNEL OUTDOOR- ADVISED BOTH US SECURITIES AND EXCHANGE COMMISSION AND UNITED STATES DEPARTMENT OF JUSTICE OF INVESTIGATION AT CLEAR MEDIA LTD

* CLEAR CHANNEL OUTDOOR HOLDINGS INC - MANAGEMENT CONCLUDED CO DID NOT MAINTAIN EFFECTIVE INTERNAL CONTROL OVER FINANCIAL REPORTING AS OF DEC 31, 2017

* CLEAR CHANNEL OUTDOOR -CONTINGENT LIABILITIES FROM POTENTIAL MISCONDUCT THAT MAY BE IDENTIFIED BY INVESTIGATIONS NOT MATERIAL TO CONSOLIDATED FINANCIAL STATEMENTS Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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