Clear Channel Outdoor Sells Europe-North Segment to Bauer

Clear Channel Outdoor ( (CCO) ) has shared an announcement.

Clear Channel Outdoor Holdings, Inc. has entered into a definitive agreement to sell its Europe-North segment to Bauer Radio Limited for $625 million, subject to adjustments. This transaction is part of Clear Channel’s strategic plan to optimize its portfolio and focus on its America and Airports segments, aiming to reduce leverage and enhance cash flow. The sale, expected to be completed in 2025, will allow Bauer Media Group to strengthen its position in the media industry while Clear Channel Outdoor plans to use the proceeds to pay down debt and adhere to asset sale provisions.

More about Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc. is a leader in the out-of-home advertising industry, known for its dynamic advertising platform that integrates digital billboards, displays, and data analytics. The company focuses on expanding its reach through innovative solutions that connect advertisers with a broad consumer base.

YTD Price Performance: -0.71%

Average Trading Volume: 1,363,178

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $679.8M

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