Clear Channel Outdoor Holdings, Inc. Completes Sale of its Europe-North Segment to a Subsidiary of Bauer Media Group
Tuesday, April 1, 2025
SAN ANTONIO, March 31, 2025 — Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) has closed the sale of the businesses constituting its Europe-North segment to Bauer Radio Limited, a subsidiary of Bauer Media Group.
The purchase price from the transaction was $625 million, subject to customary closing adjustments. The net cash proceeds received today from the transaction, after prepayment in full of the outstanding CCIBV term loans in the principal amount of $375 million, plus approximately $12 million of accrued interest, totaled approximately $243 million. Final proceeds are subject to customary post-closing adjustments and payment of transaction-related fees and expenses. We expect to prioritize using the remaining net proceeds to retire the most advantageous debt in the Company’s capital structure, as permitted in our debt agreements, thereby reducing cash interest and increasing AFFO.
“With the sale of our Europe-North segment completed, we have closed international divestitures amounting to approximately $745 million in purchase consideration, increasing optionality and reducing risk in our business,” said Scott Wells, Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. “I want to thank our team for their hard work in helping us complete this significant transaction. We remain optimistic about divesting our businesses in Spain and Brazil based on their strong performances in 2024. Our priorities remain to reduce leverage, improve our balance sheet and enhance shareholder value.”
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is at the forefront of driving innovation in the out-of-home advertising industry. Our dynamic advertising platform is broadening the pool of advertisers using our medium through the expansion of digital billboards and displays and the integration of data analytics and programmatic capabilities that deliver measurable campaigns that are simpler to buy. By leveraging the scale, reach and flexibility of our diverse portfolio of assets, we connect advertisers with millions of consumers every month.