Activist investor Anson Funds Management is pressing Clear Channel Outdoor Holdings Inc. to consider selling the company, Bloomberg reported, citing sources familiar with the matter.
Anson has shared its position directly with Clear Channel’s board, though the discussions are private, according to the report.
A Clear Channel spokesperson said the company regularly talks with shareholders to understand their views on business and strategy. “Our board and leadership team are committed to continuing to take actions that are in the best interests of the company and all shareholders,” the spokesperson added.
Anson Funds declined to comment.
Following the news, Clear Channel’s stock rose 7% on Monday morning.
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Clear Channel