Clear Channel Outdoor Holdings, Inc. Completes Sale of its Business in Spain to Atresmedia
Rhea-AI Summary
Clear Channel Outdoor Holdings (NYSE: CCO) announced it has completed the sale of its business in Spain to Atresmedia Corporación de Medios de Comunicación, S.A. for a purchase price of €115 million (approximately US$132 million). Final proceeds will reflect customary post-closing adjustments and transaction-related fees and expenses.
According to Clear Channel Outdoor, Moelis & Company and Deutsche Bank Securities served as financial advisors on the Spain sale process.
Positive
- Sale of Spain business completed for €115 million (about US$132 million)
- Transaction closed with established advisors Moelis & Company and Deutsche Bank Securities
Negative
- None.
News Market Reaction – CCO
In the Aug 5 session, CCO declined 0.41%, reflecting a mild negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
The purchase price for the transaction was EUR
Advisors
The Company engaged Moelis & Company LLC and Deutsche Bank Securities Inc. as financial advisors to assist with the process to sell its
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 its 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.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that refer to expectations or other characterizations of future events or circumstances, such as the final proceeds from the sale of our business in Spain and the use thereof, are forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and other factors, some of which are beyond our control and are difficult to predict. Various risks that could cause actual results to differ from those expressed by the forward-looking statements included in this press release include, but are not limited to, the factors set forth in our U.S. Securities and Exchange Commission ("SEC") filings. You should not place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. For a more comprehensive discussion of risks, see the "Item 1A. Risk Factors" section of the Company's reports filed with the SEC, including the Company's Annual Report on Form 10-K for the year ended December 31, 2025. The Company does not undertake any obligation to update or revise any forward-looking statements because of new information, future events or otherwise.
1 The U.S. dollar equivalent of the purchase price is based on the EUR/USD exchange rate of 1.1501 secured by the Company in connection with the conversion of the sale proceeds.
View original content to download multimedia:https://www.prnewswire.com/news-releases/clear-channel-outdoor-holdings-inc-completes-sale-of-its-business-in-spain-to-atresmedia-302842912.html
SOURCE Clear Channel Outdoor Holdings, Inc.