"We see some further consolidation down the road,” Decaux said. "CBS is a multimedia company, trading at a discount versus Decaux as a pure play, and it is very clear that the pure-play media business has outperformed the multimedia."
"There is no case for bundling media for selling outdoor with radio and television," he said. "You have to give a bigger discount to the clients."
Clear Channel is holding a shareholder meeting on March 21 to vote on an $18.7 billion buyout offer from private equity Bain Capital Partners and Thomas H. Lee Partners.
JCDecaux also said Wednesday that full-year profit rose 4.1% after the company benefited from earnings at recently acquired businesses and it won more market share.
Net income rose to 201.1 million euros ($269.1 million) from 193.2 million euros in the previous year, the company said in a statement. Sales rose 12% to 1.9 billion euros ($2.5 billion).
The company expects sales growth to continue at a similar rate in 2007.
"Market share gains in most of our core European operations and an increasing contribution from our more recently developed geographies combined to drive a strong increase in both organic revenues and operating margin," Chairman Jean-Charles Decaux said.
JCDecaux shares dipped 1% to 22.14 euros ($29.20) in Paris.