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UNITED
STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington,
D.C. 20549
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OMB APPROVAL
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OMB Number:3235-0145
Expires: February 28, 2009
Estimated average burden
hours per response… 10.4
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CLEAR
CHANNEL OUTDOOR HOLDINGS, INC.
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CLASS
A COMMON STOCK, $0.01 PAR VALUE
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18451C109
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December
31, 2009
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(Date
of Event which Requires Filing of this
Statement)
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| 1/The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. Beneficial ownership information contained herein is given as of the date listed above. |
| The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). |
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1
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Names
of Reporting Persons.
I.R.S.
Identification Nos. of above persons (entities only)
Abrams
Capital Partners II, L.P.
Abrams
Capital, LLC
Pamet
Capital Management, LLC
Pamet
Capital Management, L.P.
David
Abrams
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2
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Check
the Appropriate Box if a Member of a Group (See
Instructions)
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(a) [
]
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(b) [
]
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3
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SEC
Use Only
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4
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Citizenship
or Place of Organization.
Abrams
Capital Partners II, L.P. – Delaware
Abrams
Capital, LLC – Delaware
Pamet
Capital Management, LLC -- Delaware
Pamet
Capital Management, L.P. -- Delaware
David
Abrams -- United States
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Number
of
Shares
Beneficially
Owned
by
Each
Reporting
Person
With
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5 Sole
Voting Power
Abrams Capital Partners II,
L.P. – 0 shares
Abrams Capital, LLC – 0
shares
Pamet Capital Management, LLC – 0
shares
Pamet Capital Management, L.P. –
0 shares
David
Abrams – 0 shares
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6 Shared
Voting Power
Abrams Capital Partners II, L.P.
– 2,603,670 shares
Abrams Capital, LLC – 3,114,660
shares
Pamet Capital Management, LLC –
3,317,090 shares
Pamet Capital Management, L.P. –
3,317,090 shares
David Abrams – 3,317,090
shares
Refer
to Item 4 below.
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7 Sole
Dispositive Power
Abrams Capital Partners II,
L.P. – 0 shares
Abrams Capital, LLC – 0
shares
Pamet Capital Management, LLC – 0
shares
Pamet Capital Management, L.P. –
0 shares
David
Abrams – 0 shares
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8 Shared
Dispositive Power
Abrams Capital Partners II, L.P.
– 2,603,670 shares
Abrams Capital, LLC – 3,114,660
shares
Pamet Capital Management, LLC –
3,317,090 shares
Pamet Capital Management, L.P. –
3,317,090 shares
David Abrams – 3,317,090
shares
Refer
to Item 4 below.
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9
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Aggregate
Amount Beneficially Owned by Each Reporting Person
Abrams Capital Partners II, L.P.
– 2,603,670 shares
Abrams Capital, LLC – 3,114,660
shares
Pamet Capital Management, LLC –
3,317,090 shares
Pamet Capital Management, L.P. –
3,317,090 shares
David Abrams – 3,317,090
shares
Refer
to Item 4 below.
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10
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Check
if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
Not
applicable.
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11
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Percent
of Class Represented by Amount in Row (9)
Abrams Capital Partners II, L.P.
– 6.4%
Abrams Capital, LLC –
7.7%
Pamet Capital Management, LLC –
8.2%
Pamet Capital Management, L.P. –
8.2%
David Abrams – 8.2%
Refer
to Item 4 below.
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12
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Type
of Reporting Person (See Instructions)
Abrams
Capital Partners II, L.P. – OO (Limited Partnership)
Abrams
Capital, LLC – OO (Limited Liability Company)
Pamet
Capital Management, LLC – OO (Limited Liability
Company)
Pamet
Capital Management, L.P. – OO (Limited
Partnership)
David
Abrams – IN
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CUSIP
NO.
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18451C109
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Item 1.
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(a)
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Name
of Issuer
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Clear
Channel Outdoor Holdings, Inc.
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(b)
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Address
of Issuer's Principal Executive Offices
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200
East Basse Road, San Antonio, Texas
78209
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Item 2.
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(a)
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Name
of Person Filing
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Abrams
Capital Partners II, L.P.
Abrams
Capital, LLC
Pamet
Capital Management, LLC
Pamet
Capital Management, L.P.
David
Abrams
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(b)
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Address
of Principal Business Office or, if none, Residence
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Abrams
Capital Partners II, L.P.
Abrams
Capital, LLC
Pamet
Capital Management, LLC
Pamet
Capital Management, L.P.
David
Abrams
c/o
Pamet Capital Management, L.P.
222
Berkeley Street, 22nd Floor
Boston,
MA 02116
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(c)
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Citizenship
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Abrams
Capital Partners II, L.P. - Delaware
Abrams
Capital, LLC - Delaware
Pamet
Capital Management, LLC - Delaware
Pamet
Capital Management, L.P. - Delaware
David
Abrams - United States
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(d)
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Title
of Class of Securities
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Class
A Common Stock, par value $0.01
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(e)
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CUSIP
Number
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18451C109
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Item 3.
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If
this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c),
check whether the person filing is
a:
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(a)
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[
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Broker
or dealer registered under section 15 of the Act (15 U.S.C.
78o).
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(b)
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[
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Bank
as defined in section 3(a)(6) of the Act (15 U.S.C.
78c).
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CUSIP
NO.
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18451C109
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(c)
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[
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Insurance
Company as defined in Section 3(a)(19) of the Act
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(d)
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[
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Investment
company registered under section 8 of the Investment Company Act of 1940
(15 U.S.C 80a-8).
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(e)
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[
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An
investment adviser in accordance with
§240.13d-1(b)(1)(ii)(E);
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(f)
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[
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An
employee benefit plan or endowment fund in accordance with
§240.13d-1(b)(1)(ii)(F);
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(g)
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[
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A
parent holding company or control person in accordance with §
240.13d-1(b)(1)(ii)(G);
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(h)
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[
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A
savings associations as defined in Section 3(b) of the Federal Deposit
Insurance Act (12 U.S.C. 1813);
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(i)
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[
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A
church plan that is excluded from the definition of an investment company
under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C.
80a-3);
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(j)
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[
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A
non-U.S. institution in accordance with §240.13d–1(b)(1)(ii)(J);Group, in
accordance with §240.13d-1(b)(1)(ii)(J);
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(k)
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[
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Group,
in accordance with
§240.13d-1(b)(1)(ii)(K).
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Item 4.
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Ownership**
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(a)
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Amount
Beneficially Owned**
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Abrams Capital Partners II, L.P.
– 2,603,670 shares
Abrams Capital, LLC – 3,114,660
shares
Pamet Capital Management, LLC –
3,317,090 shares
Pamet Capital Management, L.P. –
3,317,090 shares
David Abrams – 3,317,090
shares
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(b)
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Percent
of Class
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Abrams Capital Partners II, L.P.
– 6.4%
Abrams Capital, LLC –
7.7%
Pamet Capital Management, LLC –
8.2%
Pamet Capital Management, L.P. –
8.2%
David Abrams – 8.2%
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(c)
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Number
of shares as to which such person has:
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(i)
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sole
power to vote or to direct the
vote
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CUSIP
NO.
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18451C109
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Abrams
Capital Partners II, L.P. – 0 shares
Abrams
Capital, LLC – 0 shares
Pamet
Capital Management, LLC – 0 shares
Pamet
Capital Management, L.P. – 0 shares
David
Abrams – 0 shares
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(ii)
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shared
power to vote or to direct the vote
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Abrams Capital Partners II, L.P.
– 2,603,670 shares
Abrams Capital, LLC – 3,114,660
shares
Pamet Capital Management, LLC –
3,317,090 shares
Pamet Capital Management, L.P. –
3,317,090 shares
David Abrams – 3,317,090
shares
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(iii)
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sole
power to dispose or to direct the disposition of
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Abrams
Capital Partners II, L.P. – 0 shares
Abrams
Capital, LLC – 0 shares
Pamet
Capital Management, LLC – 0 shares
Pamet
Capital Management, L.P. – 0 shares
David
Abrams – 0 shares
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(iv)
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shared
power to dispose or to direct the disposition of
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Abrams Capital Partners II, L.P.
– 2,603,670 shares
Abrams Capital, LLC – 3,114,660
shares
Pamet Capital Management, LLC –
3,317,090 shares
Pamet Capital Management, L.P. –
3,317,090 shares
David Abrams – 3,317,090
shares
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Item 5.
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Ownership
of Five Percent or Less of a Class
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CUSIP
NO.
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18451C109
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Item 6.
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Ownership
of More than Five Percent on Behalf of Another
Person
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Item 7.
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Identification
and Classification of the Subsidiary Which Acquired the Security Being
Reported on By the Parent Holding
Company
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Item 8.
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Identification
and Classification of Members of the
Group
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Item 9.
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Notice
of Dissolution of Group
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Item 10.
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Certification
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CUSIP
NO.
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18451C109
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