Clear Channel on Prowl for Acquisitions

Clear Channel Outdoor Holdings is interested in acquisitions world-wide -- particularly in China and Latin America -- as part of what could be a global shakeout in outdoor-advertising business.

"It is a market that will consolidate over the next few years," said William Eccleshare, chief executive of the seller of space on billboards, public transportation and other public places . "There are clearly opportunities for getting benefits of scale." Clear Channel Outdoor is majority-owned by Clear Channel Communications, which in turn is owned by private-equity firms Bain Capital and Thomas H. Lee Partners. China and Latin America are particularly ripe for expansion. Clear Channel is seeing growth in its Chinese operations, where the market is still fragmented among a "huge number" of local players, said Eccleshare. And the company would be interested in expanding beyond operations in Brazil, Peru, Mexico and Chile.