CCO sells Italian and Spanish businesses to JCDecaux for ~$80.5M cash; proceeds to improve liquidity

Clear Channel Outdoor Holdings, Inc.

Gross proceeds ~$80.5M (EUR75.1M) from all-cash sale to subsidiaries of JCDecaux SE.
Transaction multiples: 9.6x Segment Adj. EBITDA (FY2022) and 7.0x (TTM Mar 2023).
Italy expected to close imminently; Spain expected to close in 2024 subject to regulatory approval.
Net proceeds to improve liquidity and financial flexibility.
Board continues strategic review of other European businesses; combined with prior Swiss sale totals ~$175M.

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