Business
Clear Channel Outdoor Holdings, Inc. Agrees to Sell its Business in Spain to Atresmedia
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today announced it has entered into a definitive agreement to sell its business in Spain to Atresmedia Corporación de Medios de Comunicación, S.A. ("Atresmedia"). The expected purchase price from the transaction of EUR 115 million, or approximately USD 135 million1, is subject to customary adjustments.
About this update from Clear Channel Outdoor Holdings, Inc.
[{"type":"text","content":"Closing of Sale will Mark Completion of Divestiture of European Businesses","length":74,"tagName":"p","attribs":{}},{"type":"text","content":"SAN ANTONIO, Sept. 8, 2025 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today announced it has entered into a definitive agreement to sell its business in Spain to Atresmedia Corporación de Medios de Comunicación, S.A. ("Atresmedia"). The expected purchase price from the transaction of EUR 115 million, or approximately USD 135 million1, is subject to customary adjustments.","length":431,"tagName":"p"},{"type":"text","content":"The Company intends to use the anticipated net proceeds from the sale, after payment of transaction-related fees and expenses, to further reduce its outstanding debt.","length":166,"tagName":"p"},{"type":"text","content":""This agreement to sell our business in Spain represents the final step toward completing our process to divest our European businesses. By monetizing our European and Latin American businesses, we have improved our balance sheet and sharpened our focus on growing our America and Airports segments," said Scott Wells, Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. "We want to thank our team for their dedication and hard work in helping the Company reach this incredible milestone."","length":521,"tagName":"p"},{"type":"text","content":"Jordi Sáez Camacho, CEO of Clear Channel Spain, added, "I am deeply grateful to Clear Channel Outdoor for the journey we have shared, which allowed us to grow the Spanish out-of-home ("OOH") industry. Now, together with Atresmedia, the leading group in the Spanish audiovisual and entertainment sector, we begin an exciting new chapter where we will join forces to innovate, create new opportunities and take OOH further than ever before, for the benefit of our clients, our team and the entire industry."","length":525,"tagName":"p"},{"type":"text","content":"The transaction is expected to close by early 2026 upon satisfaction of regulatory approval. The Company will hedge the anticipated proceeds from the sale of its business in Spain to mitigate the risks related to foreign currency fluctuations.","length":243,"tagName":"p"},{"type":"text","content":"AdvisorsThe Company engaged Moelis & Company LLC and Deuts...