Business
Clear Channel Outdoor Holdings, Inc. Sells its Business in Brazil to an Affiliate of Eletromidia S.A.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today announced it has completed the sale of its business in Brazil to Publibanca Brasil S.A., an affiliate of Eletromidia S.A.
About this update from Clear Channel Outdoor Holdings, Inc.
[{"type":"text","content":"Closing of Sale Marks Completion of Divestiture of Latin American Businesses","length":76,"tagName":"p","attribs":{}},{"type":"text","content":"SAN ANTONIO, Oct. 1, 2025 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today announced it has completed the sale of its business in Brazil to Publibanca Brasil S.A., an affiliate of Eletromidia S.A.","length":249,"tagName":"p"},{"type":"image","alt":"Clear Channel Outdoor Holdings, Inc. (PRNewsfoto/Clear Channel Outdoor)","displaySize":"","headline":null,"caption":"Clear Channel Outdoor Holdings, Inc. (PRNewsfoto/Clear Channel Outdoor)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":300,"url":"https://media.zenfs.com/en/prnewswire.com/108025ef865a4bb0b85a1b42a60877cf"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/rGdxEPMluKOhMISxyiQOfg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTUyOTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/108025ef865a4bb0b85a1b42a60877cf","width":400,"height":300}},"href":"https://mma.prnewswire.com/media/1876751/Clear_Channel_Outdoor_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The purchase price for the transaction was R$80 million, or approximately US$15 million1. The Company intends to use the net proceeds from the sale, after payment of transaction-related fees and expenses, to improve liquidity and increase financial flexibility as permitted under the Company's debt agreements. Final proceeds are subject to customary post-closing adjustments and payment of transaction-related fees and expenses.","length":433,"tagName":"p"},{"type":"text","content":""The sale of our business in Brazil marks the exit of our business in Latin America. It is another key step towards simplifying and derisking our business to focus on the strength of our America and Airports businesses in the U.S. while paying down debt," said Scott Wells, Chief Executive Officer, Clear Channel Outdoor Holdings, Inc. "We are continuing to create value for shareholders from the sale of our assets outside of the U.S., by paying down debt and reinvesting in high return opportunities. We thank the team in Brazil for their dedication and perseverance."","length":590,"tagName":"p"},{"type":"text","content":"AdvisorsThe Company engaged Moelis & Company LLC...