Clear Channel Outdoor Enters the Romanian Advertising Market.PHOENIX -- Clear Channel Outdoor (NYSE NYSE See: New York Stock Exchange :CCO (Chief or Corporate Compliance Officer) The executive person in charge of compliance issues, regulatory requirements, internal controls and managing audits within an enterprise or organization. ) today 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 Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. ," 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 European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community 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. "We were looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a strong international partner to take our business to the next development phase," said Florin Gindila, Director General, Klass Advertising. "In teaming up with Clear Channel Outdoor we get the ideal combination of decentralized de·cen·tral·ize v. de·cen·tral·ized, de·cen·tral·iz·ing, de·cen·tral·iz·es v.tr. 1. To distribute the administrative functions or powers of (a central authority) among several local authorities. management style backed by the expertise and resources of the world's leading outdoor company." "In Klass, we recognized the same strong dedication to product quality and customer satisfaction as Clear Channel Outdoor," said Rickard Hedlund, Regional President Northern and Eastern Europe, Clear Channel Outdoor. "We very much look forward to developing the Romanian market together with our partners at Klass." About Clear Channel Outdoor Clear Channel Outdoor (NYSE:CCO) 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 over 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. Its Spectacolor (U.S.) and DEFI Defi Deutsche Filmografie (German Filmography) DEFI Dehors Enormes Filles Informes (French edition Calvin & Hobbes) DEFI Data Entry File Inquiry DEFI Digital Electronic Fuel Injection (international) divisions are the global market leaders in spectacular sign displays, including in New York's Times Square. Clear Channel Adshel is the company's international street furniture division, which operates over 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. |
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