Clear Channel Outdoor Holdings, Inc.

Rating Overview

Clear Channel Outdoor Holdings, Inc. is High Risk.

Clear Channel Outdoor Holdings, Inc. is High Risk. The company yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. The company implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. The company embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues. This approach fails to safeguard free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	High Risk
Discriminatory Philanthropy	Lower Risk
Employment Protection	High Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	High Risk
Political Actions	Lower Risk

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization

Criteria:

Has canceled customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level:

High

Rationale:

Clear Channel Outdoor Holdings changed their policy for Prolife Across America’s advertisements, raising the price for PLAA to post on billboards and labelling it as an “advocacy” organization. “Because the company’s rates for advocacy organizations were as much as double and nearly triple what PLAA had been paying, and because an “advocacy” label might have jeopardized its tax-exempt status, the donor-funded nonprofit has stopped renting Clear Channel Outdoor’s billboards” (1)(2).

Criteria:

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level:

Lower

Rationale:

Clear Channel Outdoor does not appear to discriminate against charitable organizations based on views or beliefs (1).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

High

Rationale:

Clear Channel Outdoor offers Inclusion training to its employees (1). The company does not provide viewpoint protections for its employees (2).

Corporate Governance and Public Policy

Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Clear Channel Outdoor was a contributing member of GARM’s Global Media Sustainability Framework, which provides an action plan for media companies to transition to net zero greenhouse gas emissions (1). The company supports DEI within its business practices, hosting an Executive Diversity Advisory Council (2). The company supports ESG within its business practices. From its 2024 ESG Report: “In all our regions, ESG is part of our DNA” (3). The company has independently run pride campaigns, and many of its international branches have held LGBTQ events and supported LGBTQ causes (4).

Criteria:

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

In 2023 and 2024, Clear Channel Sweden sponsored the Nine Muses Collective and Nine Muses Festiva, an event who’s “purpose is to create an inspirational exchange for people in the creative industries, with a clear focus on diversity, equity, and inclusion” (1). In 2020, Clear Channel Norway sponsored the SHE Conference, which is an event “focused on gender equality, diversity, and inclusion” (2). Otherwise, there are no publicly known cases of the company using corporate funds to advance ideological causes, organizations, or policies (3).

Criteria:

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level:

Lower

Rationale:

Clear Channel Outdoor has not used its PAC donations for ideological purposes and does not engage in lobbying at this time (1)(2)(3).