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iHeartMedia Sets Plan for Spin-Off of Outdoor Advertising Business

December 21, 2018 / Billboard Staff FACEBOOK TWITTER

iHeartMedia has a succession plan in place to spin off its outdoor advertising business once it emerges from bankruptcy, it was announced on Friday. The company currently owns 89.1 percent of Clear Channel Outdoor Holdings, but will fully separate when the restructuring process is complete in the new year. Once iHeartMedia emerges, William Eccleshare will become CEO of CCOH. The London-based executive is currently CEO of Clear Channel International, which he joined in 2009. Scott Wells will continue as CEO of Clear Channel Outdoor Americas, reporting to Eccleshare.