The billboard business may be worth $8 billion to $9 billion, according to New York-based Harris Nesbitt analyst Leland Westerfield, who rates Clear Channel shares "outperform."
This comment comes off the heels of the announcement of Clear Channel's anticipated $350 million billboard IPO. *
Sales and profitability of billboard ads probably will increase as the industry shifts to digital boards that can flash ads for many companies, rather than traditional displays that present a single ad, said David Bank, an analyst with RBC Capital Markets in New York.
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* It should be noted that Clear Channel will retain a controlling stake in the new public company.