Clear Channel Outdoor Holdings, Inc. (CCO): M&A transaction — Clear Channel closes sale of Europe-North segment to Bauer for $625M; net proceeds ~$243M

Clear Channel Outdoor Holdings, Inc.

Purchase price $625M; net cash proceeds after repaying $375M CCIBV term loan plus ~$12M accrued interest total ~$243M.
CCIBV Credit Agreement fully prepaid and terminated with ~$386.9M payoff amount using transaction proceeds.
Justin Cochrane, CEO of Clear Channel UK & Europe, departs; accelerated vesting of 221,410 RSUs and 95.8% of target PSUs (221,759 PSUs).
Company expects to use remaining net proceeds to retire debt, reduce cash interest, and increase AFFO.
Management optimistic about divesting Spain and Brazil businesses; $745M total international divestitures closed.

item 1.02 item 2.01 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Justin Cochrane

Chief Executive Officer of Clear Channel UK & Europe

CCO · Clear Channel Outdoor Holdings, Inc.

Filed: March 31, 2025, 7:59 PM ET

Simultaneous with the closing of the Transaction, Justin Cochrane, Chief Executive Officer of Clear Channel UK & Europe, has ceased to be an employee of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Justin Cochrane resigned as Chief Executive Officer of Clear Channel UK & Europe at Clear Channel Outdoor Holdings, Inc..

Action: resigned
Role: Chief Executive Officer of Clear Channel UK & Europe

Exact text from the filing

Simultaneous with the closing of the Transaction, Justin Cochrane, Chief Executive Officer of Clear Channel UK & Europe, has ceased to be an employee of the Company.

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Clear Channel Outdoor Holdings, Inc. completed a disposition involving Bauer Radio Limited for $625.0 million (closed 2025-03-31).

Action: disposition
Counterparty: Bauer Radio Limited
Consideration: $625.0 million
Closing: 2025-03-31

Exact text from the filing

Purchase Agreement”), by and among the Seller, Clear Channel Outdoor, LLC, a wholly owned subsidiary of the Company, CCIBV and the Purchaser, for an aggregate purchase price of $625.0 million, subject to certain customary adjustments, and prior to the repayment in full of the obligations due under the CCIBV Credit Agreement as described in Item 1.02 of this Current

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25 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Clear Channel Outdoor Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-068755

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