Activist Investor Anson Urges Clear Channel Outdoor to Pursue Sale

Activist investor Anson Funds Management is urging Clear Channel Outdoor Holdings to pursue a sale of the company. Anson, the sixth-largest shareholder with a 3.6% stake, has made its views known to the board. Clear Channel has been divesting international operations and has financial targets over the next three years. The company's shares fell 4.1% to $1.40, giving it a market value of about $696 million.