Bauer Media Group has completed its $625 million acquisition of Clear Channel Europe.
“Under the name ‘Bauer Media Outdoor,’ the company adds out-of-home advertising to Bauer Media’s offering, which is a strong strategic fit with its existing audio and publishing divisions,” it said in a press release.
Bauer now has 200 magazine brands, 150 audio brands and 110,000 outdoor sites.
Clear Channel Outdoor will use the proceeds in part to pay down debt. Its CEO Scott Wells said, “We remain optimistic about divesting our businesses in Spain and Brazil based on their strong performances in 2024. Our priorities remain to reduce leverage, improve our balance sheet and enhance shareholder value.”
Clear Channel Outdoor Holdings was fully separated from iHeartMedia in 2019.
