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Filing Details

Accession Number:: 0001104659-23-007104
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2023-01-26 18:16:02
Reporting Period:: 2023-01-24

Accepted Time:: 2023-01-26 18:16:02
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1334978	Clear Channel Outdoor Holdings Inc.	CCO	Investment Advice (6282)	DE

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1176948	Ares Management Corp	2000 Avenue Of The Stars, 12Th Floor Los Angeles CA 90067	No	No	Yes	No
1259313	Ares Management Llc	2000 Avenue Of The Stars 12Th Floor Los Angeles CA 90067	No	No	Yes	No
1536937	L.p. Holdings Management Ares	2000 Avenue Of The Stars, 12Th Floor Los Angeles CA 90067	No	No	Yes	No
1620263	Ares Partners Holdco Llc	2000 Avenue Of The Stars, 12Th Floor Los Angeles CA 90067	No	No	Yes	No
1620264	Ares Management Gp Llc	2000 Avenue Of The Stars, 12Th Floor Los Angeles CA 90067	No	No	Yes	No
1669983	Ares Holdco Llc	2000 Avenue Of The Stars, 12Th Floor Los Angeles CA 90067	No	No	Yes	No
1761656	Ares Voting Llc	2000 Avenue Of The Stars, 12Th Floor Los Angeles CA 90067	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value $0.01	Acquisiton	2023-01-24	721,000	$1.65	53,330,626	No	4	P	Indirect	See Footnotes
Common Stock, Par Value $0.01	Acquisiton	2023-01-25	875,000	$1.56	54,205,626	No	4	P	Indirect	See Footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See Footnotes
No	4	P	Indirect	See Footnotes

Footnotes

This statement is being filed by (i) ASSF IV AIV B Holdings III, L.P. ("ASSF IV AIV B Holdings"), (ii) ASSF IV AIV B, L.P. ("ASSF IV AIV B"), (iii) ASSF Operating Manager IV, L.P. ("ASSF Operating Manager IV"), (iv) ASOF Holdings I, L.P. ("ASOF I"), (v) ASOF II Holdings I, L.P. ("ASOF II Holdings I"), (vi) ASOF II A (DE) Holdings I, L.P. ("ASOF II A (DE) Holdings I"), (vii) ASOF Investment Management LLC ("ASOF Investment Management"), (viii) ACOF VI Holdings, L.P. ("ACOF VI"), (ix) ACOF Investment Management LLC ("ACOF Investment Management") (Continued in footnote 2)
(x) Ares Management LLC, (xi) Ares Management Holdings L.P. ("Ares Management Holdings"), (xii) Ares Holdco LLC ("Ares Holdco"), (xiii) Ares Management Corporation ("Ares Management"), (xiv) Ares Voting LLC ("Ares Voting"), (xv) Ares Management GP LLC ("Ares Management GP") and (xvi) Ares Partners Holdco LLC ("Ares Partners") (collectively, the "Reporting Persons"). Due to the electronic system's limitation of 10 Reporting Persons per joint filing, this statement is being filed in two parts.
Ares Partners is the sole member of each of Ares Voting and Ares Management GP, which are respectively the holders of the Class B and Class C common stock of Ares Management, which common stock allows them, collectively, to generally have the majority of the votes on any matter submitted to the stockholders of Ares Management if certain conditions are met. Ares Management is the sole member of Ares Holdco, which is the general partner of Ares Management Holdings, which is the sole member of Ares Management LLC, which is: (a) the general partner of ASSF Operating Manager IV, which is the manager of each of ASSF IV AIV B Holdings and ASSF IV AIV B; (b) the sole member of ASOF Investment Management, which is the manager of ASOF I, ASOF II Holdings I and ASOF II A (DE) Holdings I; and (c) the sole member of ACOF Investment Management, which is the manager of ACOF VI.
Ares Partners is managed by a board of managers, which is composed of Michael J Arougheti, Ryan Berry, R. Kipp deVeer, David B. Kaplan, Antony P. Ressler and Bennett Rosenthal (collectively, the "Board Members"). Mr. Ressler generally has veto authority over Board Members' decisions.
The Reporting Persons collectively beneficially own, or may be deemed to beneficially own, in the aggregate, 54,205,626 shares of Common Stock by reason of the direct or indirect beneficial ownership of such shares as follows: (i) ASSF IV AIV B Holdings directly holds 16,774,031 shares of Common Stock, (ii) ASSF IV AIV B directly holds 1,892,866 shares of Common Stock, (iii) ASOF I directly holds 19,332,427 shares of Common Stock, (iv) ASOF II Holdings I directly holds 3,756,983 shares of Common Stock, (v) ASOF II A (DE) Holdings I directly holds 677,080 shares of Common Stock and (vi) ACOF VI directly holds 11,772,239 shares of Common Stock. The respective number of shares reported for certain Reporting Persons, including ASSF IV AIV B Holdings, ASSF IV AIV B and ASOF I, has, in each case, been updated to correct an inadvertent overstatement of previously reported historical beneficial ownership by the collective amount of 1,021,954 shares of Common Stock.
Each of the Reporting Persons and the Board Members, and the other directors, officers, partners, stockholders, members and managers of the Reporting Persons, expressly disclaims beneficial ownership of the Common Stock, except to the extent of any pecuniary interest therein, and this Form 4 shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purposes.