Ad firm Clear Channel Outdoor to sell Europe-North business for $625 mln to Bauer Media

Clear Channel Outdoor Holdings

09/01/2025 12:30

Jan 9 (Reuters) - Advertising company Clear Channel
Outdoor  CCO.N  said on Thursday it was selling the Europe-North
section of its business to a subsidiary of Bauer Media Group for
$625 million in cash as part of its strategy to focus more on
the U.S. region. 
    Clear Channel will use net proceeds from the sale to prepay
in full the outstanding term loans of its CCIBV subsidiary with
a principal amount of $375 million, plus any accrued interest,
it said in a statement. 
    "Agreement to sell our Europe-North segment is another
significant step in the execution of our strategic plan to
optimize our portfolio and focus on growing our America and
Airports segments to organically improve cash flow and reduce
leverage on our balance sheet," said Scott Wells, Chief
Executive Officer of Clear Channel Outdoor Holdings. 
    Texas-based Clear Channel provides outdoor advertising
services and operates in more than 260 airport media programs
globally. 
    The transaction is expected to close in 2025, upon
satisfaction of regulatory approvals.

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru
Editing by Mark Potter)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))