Clear Channel Outdoor To Sell European Business To Bauer Media For $625 Million

Clear Channel Outdoor (CCO), a leading outdoor advertising company, has announced the sale of its Europe-North business to a subsidiary of Bauer Media Group for $625 million in cash. The sale is part of Clear Channel’s strategy to concentrate more on its U.S. operations.

The proceeds from the transaction will be used to fully pay off the outstanding term loans of its CCIBV subsidiary, totaling $375 million in principal, along with any accrued interest. This move is in line with Clear Channel’s ongoing efforts to streamline its portfolio and strengthen its financial position.

Scott Wells, CEO of Clear Channel Outdoor Holdings, commented, “This sale represents a key milestone in our strategic plan to optimize our business. By focusing on our American and airport segments, we aim to boost cash flow and reduce leverage, helping us position ourselves for continued growth.”

Clear Channel Outdoor, headquartered in Texas, operates over 260 media programs globally, primarily in airports. The transaction is expected to close in 2025, pending regulatory approvals.

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