Mario Gabelli’s mutual fund Gabelli & Co. has lodged an objection with Clear Channel Outdoor (NYSE:CCO) after a decision by that company to move up to $1 billion in payments to its parent company Clear Channel Communications. 89% of the Outdoor business is owned by Clear Channel Communications while the remaining share is owned by a Hedge fund, JHL Holdings, and several private equity members. Gabelli is among these and maintains a 6% holding of the company’s publicly traded shares. The first of these shares was acquired in 2005 when Clear Channel Outdoor was initially offered as separate entity for…
Mario Gabelli Unhappy With Clear Channel Money Swap Agreement
HFA Staff
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