Market Overview

Clear Channel Outdoor Holdings, Inc. Announces New Post-Emergence Board of Directors


New Board Will Bring Broad, Global Expertise to Position the New
Company for Future Growth

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO), a subsidiary of
iHeartMedia, Inc. (OTC:IHRTQ), announced today the members selected to
serve on its new Board of Directors when it becomes a standalone company
upon iHeartMedia's emergence from its previously announced restructuring

In conjunction with, and subject to, confirmation of iHeartMedia's Plan
of Reorganization, Clear Channel Outdoor Holdings' (CCOH) post-emergence
Board will consist of the following Directors, all of whom possess
highly relevant knowledge and experience critical to positioning the
company for future success:

Ben Moreland (Chair) – W. Benjamin (Ben) Moreland will serve
as the lead independent director on the Board of Directors. He is a
private investor and retired CEO of Crown Castle, where he remains a
member of the Board of Directors. Crown Castle (NYSE:CCI), a leading
provider of wireless infrastructure in the US, owns and operates over
40,000 towers and Small Cell facilities, supported by over 60,000 route
miles of fiber in key US markets. An S&P 500 Company headquartered in
Houston, Texas, Crown Castle has over 4,000 employees in the US. Prior
to his retirement, Mr. Moreland served as Executive Vice Chairman from
June 2016 through December 2017 and was President and Chief Executive
Officer from July 2008 through May 2016. From 2000 through 2008, Mr.
Moreland was Chief Financial Officer. Mr. Moreland joined Crown Castle
in 1999, after 15 years with Chase Manhattan Bank and predecessor banks,
primarily in corporate finance and real estate investment banking.

Mr. Moreland is a former board member and Chairman of the Board of
WIA-The Wireless Infrastructure Association and former member of the
Executive Board of the National Association of Real Estate Investment
Trusts (NAREIT). He also served on the Board of Directors of Calpine
Corporation (NYSE:CPN) from 2009 until its privatization in March 2018,
and Monogram Residential Trust (NYSE:MORE) from 2016 until its
privatization in September 2017. Mr. Moreland is also a former member of
the executive board of the Greater Houston Partnership.

Mr. Moreland currently serves on the Board of Houston Methodist
Hospital, where he chairs the subsidiary, Methodist Health Centers
Board. He is also a member of the Board of the Hope and Healing Center,
a comprehensive mental health resource non-profit serving the Houston
Community and beyond. He is a member of the University of Texas McCombs
School of Business Advisory Council and Chancellor's Council Executive
Committee. He holds a BBA from The University of Texas at Austin and an
MBA from The University of Houston.

William Eccleshare – Mr. Eccleshare is the current CEO and
Board Chairman of Clear Channel International – the international
division of Clear Channel Outdoor. Effective upon iHeartMedia's
emergence from its restructuring, Mr. Eccleshare will become Chief
Executive Officer of the new standalone CCOH. Mr. Eccleshare was
formerly Chairman and CEO of BBDO Europe, Middle East and Africa
(Omnicom), European Chairman of Young and Rubicam and Chairman and CEO
of Ammirati Puris Lintas for Northern Europe. He also spent three years
as a Partner at McKinsey & Co, leading the firm's European Branding
Practice. Mr. Eccleshare has an MA in History from Trinity College,
University of Cambridge.

John Dionne  Mr. Dionne is a Senior Advisor to the
Blackstone Group and a Senior Lecturer in the Finance Unit at the
Harvard Business School. He is also a director of Caesars Entertainment,
Cengage Learning Holdings II, Inc., Momentive Performance Materials,
Inc. and Pelmorex Media, Inc. Until he retired from his position as a
Senior Managing Director of Blackstone in 2013, Mr. Dionne was most
recently Global Head of its Private Equity Business Development and
Investor Relations Groups and served as a member of Blackstone's Private
Equity and Valuation Committees. Mr. Dionne originally joined Blackstone
in 2004 as the Founder and Chief Investment Officer of the Blackstone
Distressed Securities Fund. Mr. Dionne began his career with Price
Waterhouse and holds an M.B.A. from the Harvard Business School and a BS
degree in Accounting, Economics, and Finance from The University of

Lisa Hammitt – Ms. Hammitt is a senior software executive
with 25 years of industry experience. As Vice President of Cloud
Marketplace and SaaS at IBM, she helps customers leverage Cognitive
Computing in the Cloud. Prior to IBM, Ms. Hammitt was a VP of Marketing
of Salesforce Community Cloud, where she spearheaded strategy that drove
community adoption and reach. Before Salesforce, she headed mergers and
acquisitions in Information Management and Cloud Computing at IBM and
HP. Ms. Hammitt received a BA in economics and French from UC Berkeley
and completed graduate course work in Artificial Intelligence at
Stanford University.

Andrew Hobson – Mr. Hobson serves as Partner and Chief
Financial Officer at Innovatus Capital Partners, LLC. Prior to joining
Innovatus, Mr. Hobson was a senior Financial Executive at Univision for
over twenty years. He served as Senior Executive Vice President at
Univision Communications Inc. since 2004 and Chief Financial Officer
since 2005. Mr. Hobson holds a B.S.E. in both Finance and Accounting,
magna cum laude, from University of Pennsylvania – The Wharton School.

Tom King – Mr. King has more than 30 years of experience in
the investment banking and financial services industry. Most recently,
Mr. King served as Chief Executive Officer of Investment Banking at
Barclays and Chairman of the Investment Banking Executive Committee. Mr.
King was also a member of the Barclays Group Executive Committee which
oversees all of the Barclays plc businesses. Mr. King is an Operating
Partner at Atlas Merchant Capital. He holds a BA in Economics from
Bowdoin College and an MBA in finance from University of Pennsylvania -
The Wharton School.

Joe Marchese – Joe Marchese is President of Advertising
Revenue for Fox Networks Group, a role in which he oversees advertising
sales, research and innovation for FOX Broadcast, FOX Sports, FS1, FX,
FXX and National Geographic. This includes tentpole advertising events
like the World Series and Super Bowl. Mr. Marchese was previously
co-founder and CEO of true[X], the leader in ad engagement technology,
which was acquired by 21st Century Fox in 2015. Prior to
co-founding true[X], Joe has spent time as a media executive, management
consultant and multiple time entrepreneur. Mr. Marchese is also the
Executive Chairman of Human Ventures, a leading New York based start-up
studio and venture fund. He is a member of the Board of Trustees of the
Paley Center for Media. He also serves on Board of Directors for the
non-profits Tribeca Film Institute and Team Rubicon. In 2016, Mr.
Marchese was inducted into the American Advertising Federation's
Advertising Hall of Achievement. He graduated from Bentley University in
Waltham, Massachusetts with a bachelor's degree in Economics and Finance.

MT Rainey – British-born Ms. Rainey is a highly respected
advertising industry leader in both the UK and the U.S. As SVP Planning
Director of Chiat/Day in the U.S. she pioneered the discipline of
Account Planning across the U.S. offices, then returned to found
Chiat/Day UK as CEO in London. She subsequently founded the highly
successful agency Rainey Kelly Campbell Roalfe which was eventually
acquired by Y&R, then became Joint CEO of the merged agency, leading it
to a top 5 position within 4 years as part of WPP. She was Chairman of
and investor in Th_nk Ltd, a digital transformation agency recently sold
to EPAM U.S. She also recently completed a six-year term as
Non-Executive Director of Channel 4 Television, the latter two years as
Deputy Chair. She has previously served as a Board Director on a number
of publicly listed UK companies and is currently on the Board of Hays

Jinhy Yoon – Ms. Yoon is an executive vice president and
credit analyst at PIMCO covering technology, media and telecom
companies. Prior to joining PIMCO in 2010, she was an equity research
analyst at J.P. Morgan Securities in San Francisco, focusing on the
semiconductor capital equipment sector. Previously, Ms. Yoon covered
integrated oil companies and independent refiners as an equity analyst
at Bear Stearns and was a corporate attorney with Simpson Thacher &
Bartlett in New York. She has 14 years of investment experience and
holds a J.D. from Columbia University School of Law and a Bachelor of
Business Administration degree from the University of Notre Dame. She is
also a retired Certified Public Accountant (CPA).

The post-emergence Board is excited about CCOH's prospects and looks
forward to working with its strong management team to position the
Company for future growth. Upon emergence, addressing the capital
structure, including reducing leverage, will be a priority and CCOH has
a variety of tools to do so.

"The quality of CCOH's new Board is further validation of the strength
of its business," said Bob Pittman, Chairman and CEO of iHeartMedia,
Inc. "Its members have broad and global expertise across advertising and
media businesses, telecom, technology, strategy and planning, and
financial service -- and are leaders who will provide the kind of
knowledge and experience critical to positioning CCOH for future growth
and success."

Clear Channel Outdoor Holdings, Inc.'s current Board of Directors will
remain in place until iHeartMedia emerges from its restructuring, at
which time the new CCOH Board will assume its responsibilities. Until
the company exits the restructuring process, Bob Pittman and Rich
Bressler will continue their current leadership roles for CCOH, with Mr.
Pittman as CEO and Mr. Bressler as Chief Financial Officer.

Forward-Looking Statements

This press release includes "forward-looking statements" intended to
qualify for the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. You can identify these
statements by the fact that they do not relate strictly to historical or
current facts. These statements contain words such as "may," "will,"
"expect," "believe," "would," "estimate," "continue," or "future," or
the negative or other variations thereof or comparable terminology. In
particular, they include statements relating to, among other things, the
proposed restructuring of iHeartMedia, timing to exit Chapter 11 and
future outcomes. These forward-looking statements are based on current
expectations and projections about future events. Investors are
cautioned that forward-looking statements are not guarantees of future
performance or results and involve risks and uncertainties that cannot
be predicted or quantified, and, consequently, actual results may differ
materially from those expressed or implied by such forward-looking

About Clear Channel Outdoor Holdings, Inc.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) is one of the world's
largest outdoor advertising companies with over 450,000 displays in 31
countries across Asia, Europe, Latin America and North America. Reaching
millions of people monthly, including consumers in 43 of the top 50 U.S.
markets, Clear Channel Outdoor enables advertisers to engage with
consumers through innovative advertising solutions. Clear Channel
Outdoor is pioneering the integration of out-of-home with mobile and
social platforms, and the company's digital platform includes more than
1,200 digital billboards across 28 markets in the U.S. and more than
14,000 digital displays in international markets. More information is
available at

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