Clear Channel Donates Space for Californian Drought Issue

Premium marketing services company Clear Channel Outdoor Holdings Inc. CCO took a step toward social welfare by donating space on its billboards all over North California to aid the state's conservation program ‘Save Our Water'. The offered billboard space would be utilized for encouraging the Californians to conserve water resources at a time when the state is encountering severe drought issues.

Over the last five years, California is suffering from extremely dry climatic conditions, with very low precipitation and snowpack rates. Given the serious water scarcity, Governor Edmund G. Brown Jr. lately undertook a remarkable action by issuing a mandate for lowering water usage in California by almost 25%.

By donating advertising space for the ‘Save Our Water' campaign, Clear Channel Outdoor Holdings is supporting the Governor's drought-controlling initiatives. Through the program, the company attempts to instruct Californians on reduction of individual water wastage by measures like limited outdoor water usage.

Clear Channel Outdoor Holdings is a global leader in outdoor advertising displays in many countries across the world. In the United States, the company enjoys a presence in the top designated market area (‘‘DMA'') regions. We believe the company's initiative toward a welfare issue like resolving Californian water shortage would serve to augment its brand value in the market.

Stocks to Consider

Clear Channel Outdoor Holdings currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include AirMedia Group Inc. AMCN, The Interpublic Group of Companies, Inc. IPG and MDC Partners Inc. MDCA. All three stocks hold a Zacks Rank #2 (Buy).

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