The deal, settled for EUR €115 million, is subject to standard post-closing adjustments and the deduction of transaction-related fees. To facilitate the sale, Clear Channel retained Moelis & Company LLC and Deutsche Bank Securities Inc. as financial advisors. The company secured an exchange rate of 1.1501 to convert the proceeds into U.S. currency.
In section Releases
Clear Channel Offloads Spanish Operations to Atresmedia for $132 Million
Clear Channel Outdoor Holdings has finalized the divestiture of its Spanish business unit to media group Atresmedia Corporación de Medios de Comunicación. The transaction, valued at approximately $132 million, marks a significant consolidation of assets for the San Antonio-based advertising giant as it continues to reshape its international portfolio.
This divestment aligns with Clear Channel's broader strategy of pivoting toward digital innovation and programmatic advertising capabilities. By shedding its Spanish footprint, the company aims to sharpen its focus on markets where it can better leverage its data-integrated billboard platforms and scalable advertising technology.
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