November 23, 2024 3:50 am
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Goodyear asked to change billboard deal due to COVID-19’s hit on advertising revenue

A sign advertises Goodyear. The city ranked sixth in the U.S. in the rate of population growth last year, according to a Census Bureau report released on Thursday.

By Mike Sunnucks | Rose Law Group Reporter

The Goodyear City Council is looking at adjusting an electronic billboard deal with Clear Channel Outdoors LLC because of the impact of COVID-19.

Goodyear and Clear Channel Outdoors have a 25-year deal allowing the billboard company to operate digital billboard on city property along Interstate 10.

The economic fallout from the Coronavirus has prompted Clear Channel to ask for a temporary reduction in licensing fees it pays to the city from ad revenue.

The Goodyear City Council will look at a 3-month, 50-percent reduction in the revenue it receives from billboards at its April 27th meeting. The reduction amounts to $25,700 and would commence May 1st.

The pandemic has hit advertising revenue for a number of outlets including billboards and print publications

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.