#USA #San Antonio #Clear Channel Outdoor #Europe-North #Bauer Media Group

Clear Channel Outdoor Holdings, Inc. Finalizes Sale of Europe-North Segment

Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) has officially completed the sale of its Europe-North segment, with Bauer Radio Limited, a subsidiary of the Bauer Media Group, as the buyer. This substantial transaction marks a significant shift for the company, with a purchase price set at $625 million, adjusted for customary closing costs and liabilities.

Upon closing this deal on March 31, 2025, Clear Channel received approximately $243 million in net cash proceeds after settling an outstanding term loan of $375 million and about $12 million in accrued interest. The company plans to strategically utilize these funds to retire high-interest debt and enhance their balance sheet, ultimately aiming to boost their Adjusted Funds From Operations (AFFO).

Scott Wells, the Chief Executive Officer of Clear Channel Outdoor Holdings, expressed satisfaction regarding the completion of this transaction, highlighting its importance in their broader strategy to reduce risks and increase financial flexibility. With the total divestitures reaching about $745 million in purchase consideration, the company is positioning itself for continued success in the competitive out-of-home advertising sector. Wells acknowledged the hard work of the team in facilitating the completion of this crucial sale and reaffirmed the company's intent to focus on the divestment of operations in Spain and Brazil, where they anticipate strong performance in 2024.

As a leading player in out-of-home advertising, Clear Channel Outdoor is committed to innovation. The organization is known for its dynamic advertising solutions, which now include advanced digital billboards and data analytics capabilities designed to streamline and optimize the advertising experience for clients. By leveraging their extensive portfolio, they connect advertisers to millions of consumers, ensuring that their campaigns are not only effective but also measurable.

The sale of the Europe-North segment comes amidst ongoing economic uncertainties and competition in the marketplace. Clear Channel's leadership is aware of the challenges ahead but remains optimistic about the potential for future growth, especially with upcoming transactions regarding their businesses in Spain and Brazil. The company is determined to pursue a path of reduced leverage, improved financial health, and enhanced shareholder value.

In conclusion, the successful divestiture from its Europe-North operations represents a robust strategy for Clear Channel Outdoor Holdings, Inc. As they move forward, the organization plans to continue refining its focus on core markets, exploring opportunities for innovation, and reinforcing their commitment to building stronger partnerships within the advertising landscape. With their eyes set on the future, Clear Channel aims to navigate the complexities of the market while maximizing their impact in the industry.