Clear Channel is in the midst of a corporate restructuring, including an initial public offering of its fastest-growing and most profitable operations: outdoor media. While total revenues declined 1 percent to $2.46 billion during the second quarter of 2005, Clear Channel's outdoor advertising sales rose 7.0 percent to $684.5 million. The outdoor media growth was most pronounced in the U.S., where Clear Channel is the largest supplier of outdoor advertising.
The company announced plans to file an IPO for Clear Channel Outdoor Holdings on Wednesday, which should provide more details about the outdoor sector's performance.
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