OUTFRONT Media Director Joseph Wender to Retire Following 2025 Annual Meeting


OUTFRONT Media Inc. (NYSE: OUT) announced that longtime board member Joseph H. Wender will retire and not seek re-election at the company’s upcoming 2025 Annual Meeting of Stockholders. His retirement will become effective at the conclusion of his current term on the date of the meeting.

According to the company’s disclosure, Mr. Wender’s decision to step down was not due to any disagreement with OUTFRONT Media regarding its operations, policies, or practices. His departure marks the end of his service on the board but does not reflect any adverse internal issues.

OUTFRONT Media Inc. (NYSE: OUT) reported its fourth quarter and full-year 2024 financial results, highlighting revenue of $493.2 million for the quarter and $1.83 billion for the full year. The company posted a quarterly net income of $74.0 million, or $0.43 per diluted share, and an adjusted OIBDA of $155.2 million. AFFO for the quarter was $118.7 million.

Billboard segment revenue increased 2.0% to $374.6 million, while transit segment revenue rose 9.1% to $116.5 million. Operating income for the quarter was $111.1 million. The company declared a quarterly dividend of $0.30 per share, payable on March 31, 2025.

For the full year 2024, revenue increased slightly to $1.83 billion, with net income of $258.2 million. OUTFRONT's AFFO was $307.5 million, up from $275.8 million in 2023. Capital expenditures for 2024 were $78.1 million, a 10.0% decline from the prior year.

The company ended the year with $46.9 million in cash and $2.5 billion in total debt. Liquidity included $494.5 million in available credit and $140.0 million under its accounts receivable securitization facility. OUTFRONT will hold an earnings call on February 25, 2025.

Source: OUTFRONT Media, February 25, 2025.

OUTFRONT Media Inc. has announced the appointment of Nick Brien as Interim Chief Executive Officer, effective February 10, 2025. Brien, who has served on the company's Board of Directors for many years, brings extensive experience from leadership roles at major advertising firms, including Publicis, Dentsu, McCann Worldgroup, and IPG Mediabrands. He also served as CEO at Amobee. This leadership transition follows the previously announced retirement of Jeremy Male. Michael Dominguez has been named Chairman of the Board, effective the same date

OUTFRONT Media Inc. implemented a 1-for-1.024549 reverse stock split of its common stock, effective January 17, 2025. This adjustment consolidates shares so that shareholders receive one share of common stock for every 1.024549 shares held. Cash will be provided for fractional shares, calculated using the stock's volume-weighted average price on the NYSE from January 14 to 16, 2025. Split-adjusted trading commenced on January 17, 2025, with the stock continuing to trade under the symbol "OUT" on the NYSE and adopting a new CUSIP number, 69007J-304. The company’s authorized shares and $0.01 par value per share remain unchanged.