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Clear Channel Outdoor Holdings, Inc. has announced that it has entered into a definitive agreement to sell its Europe-North segment to Bauer Radio Limited, a subsidiary of Bauer Media Group, for US$625 million, subject to certain customary adjustments. Pending regulatory approvals, the transaction is expected to close later this year.
The acquisition will expand Bauer Media’s European footprint and strengthen its core media businesses. Clear Channel Europe’s portfolio includes highly digitized assets across 12 markets: the United Kingdom, Belgium, Denmark, Estonia, Finland, Ireland, Latvia, Lithuania, the Netherlands, Norway, Poland and Sweden. Seven markets overlap with Bauer Media’s operations, while five represent new opportunities.
This move enhances Bauer Media’s digital expertise and offers advertisers access to more consumer touchpoints. Clear Channel Europe’s leadership team and 1,400 employees will remain with the business, continuing to manage its out-of-home operations.
Enhanced opportunities
Yvonne Bauer, chair of the Bauer Media Board, said, “The acquisition of Clear Channel Europe represents a pivotal step in advancing our Group’s refocused strategy. By enhancing our core media and investing in digital transformation, this move broadens our capabilities and strengthens our position in the highly competitive media industry.”
She added, “Together, our combined reach will include 350 million consumers through 200 magazine brands, 150 audio brands and 110,000 out-of-home sites across Europe. This expansion will provide advertisers with enhanced opportunities to deliver impactful campaigns in an increasingly digital world.”
Justin Cochrane, CEO of Clear Channel Outdoor UK and Europe, said, “We look forward to joining Bauer Media and building on the strong foundation we have established. The consistent performance of our Europe-North assets reflects the growing demand in these markets and the dedication of our teams.”
