Clear Channel Outdoor (NYSE: CCO) to divest Spain unit for USD 135M

Rhea-AI Filing Summary

Clear Channel Outdoor Holdings, Inc. announced that its wholly owned subsidiary Clear Channel International Holdings B.V. has signed a definitive agreement to sell the Company’s business in Spain to Atresmedia Corporación de Medios de Comunicación, S.A.

The expected purchase price is approximately USD 135 million, based on exchange rates on September 5, 2025, and is subject to customary adjustments. The transaction is expected to close by early 2026, upon satisfaction of regulatory approval. The terms were disclosed through a press release furnished as an exhibit.

Insights

Media & advertising sector analyst

Clear Channel plans to exit Spain via a ~$135M sale pending approvals.

Clear Channel Outdoor plans to divest its Spanish business, with its subsidiary agreeing to sell the unit to Atresmedia Corporación de Medios de Comunicación, S.A.. The expected consideration is approximately USD 135 million, subject to customary purchase price adjustments.

This move narrows the company’s geographic footprint by exiting Spain, potentially reshaping its international portfolio and strategic focus. The filing ties the amount to exchange rates as of September 5, 2025, underscoring currency as a technical factor in the valuation.

The transaction is expected to close by early 2026, subject to regulatory approval. Actual outcomes will depend on the approval process and final adjustment mechanisms, with further detail likely provided in subsequent company disclosures once closing conditions are met.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 8, 2025

CLEAR CHANNEL OUTDOOR HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Delaware		001-32663		88-0318078
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

4830 North Loop 1604W, Suite 111

San Antonio, Texas, 78249

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (210) 547-8800

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.01 par value per share		CCO		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure

On September 8, 2025, Clear Channel Outdoor Holdings, Inc. (the “Company”) issued a press release announcing that Clear Channel International Holdings B.V., a wholly owned subsidiary of the Company, had entered into a definitive agreement to sell the Company’s business in Spain to Atresmedia Corporación de Medios de Comunicación, S.A. The expected purchase price from the transaction of approximately USD 135 million based on prevailing exchange rates on September 5, 2025, is subject to customary adjustments. The transaction is expected to close by early 2026, upon satisfaction of regulatory approval. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information under this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information, including Exhibit 99.1, be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit Number		Description
99.1		Press Release issued by Clear Channel Outdoor Holdings, Inc. on September 8, 2025
104		Cover Page Interactive Data File (formatted as inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				CLEAR CHANNEL OUTDOOR HOLDINGS, INC.
Date: September 8, 2025				By:		/s/ Lynn A. Feldman
						Lynn A. Feldman
						Executive Vice President, Chief Legal Officer and Corporate Secretary

FAQ

What transaction did Clear Channel Outdoor (CCO) announce in Spain?

Clear Channel Outdoor announced a definitive agreement to sell its business in Spain to Atresmedia Corporación de Medios de Comunicación, S.A. The deal is executed through its wholly owned subsidiary Clear Channel International Holdings B.V., signaling a planned exit from the Spanish market.

What is the expected purchase price for Clear Channel Outdoor’s Spain business?

The expected purchase price is approximately USD 135 million, based on prevailing exchange rates on September 5, 2025. This amount is subject to customary purchase price adjustments, meaning the final consideration may change slightly once closing mechanics are completed.

When is Clear Channel Outdoor’s Spain sale expected to close?

The transaction is expected to close by early 2026. Completion depends on satisfaction of regulatory approval, so the timing ultimately hinges on the relevant authorities’ review and clearance processes referenced in the company’s announcement.

Who is buying Clear Channel Outdoor’s Spain business?

The buyer is Atresmedia Corporación de Medios de Comunicación, S.A.. Clear Channel International Holdings B.V., a wholly owned subsidiary of Clear Channel Outdoor Holdings, entered into the definitive agreement to transfer the Spanish business to this media company, as described in the press release.

Does the Clear Channel Outdoor 8-K make the Spain sale terms legally binding?

The 8-K reports a definitive agreement, indicating binding contractual terms between the parties. However, the filing notes that closing remains subject to regulatory approval and customary adjustments, so completion and final economics will be determined at or near closing.

How did Clear Channel Outdoor communicate details of the Spain sale?

The company issued a press release on September 8, 2025, describing the sale of its Spanish business and expected purchase price. This press release is furnished as Exhibit 99.1 to the 8-K and incorporated by reference for additional transaction details.