Activist investor Legion agrees not to criticize Clear Channel Outdoor publicly (Billboard Insider)

Billboard Insider’s take:  Legion is trading a board seat and an an additional Clear Channel Outdoor outside director for the right to publicly criticize the company.  Expect all the arguments to occur behind closed doors at board meetings.  Legion owns 5% of Clear Channel Outdoor stock now and has agreed not to push its stake above 10%.  Clear Channel Outdoor’s board will remain at 1o people.  Interested to see who will leave when the additional independent director is added. […]