---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-043066"
form_type: "8-K"
ticker: "CCO"
cik: "0001334978"
company_name: "Clear Channel Outdoor Holdings, Inc."
filed_at: "2026-02-09T23:59:59+00:00"
generated_at: "2026-05-16T03:51:17.694192+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Clear Channel Outdoor to be acquired by Mubadala Capital/TWG for $2.43 per share in cash

## Summary
- Per share cash consideration $2.43; go-shop period allows soliciting superior proposals until March 26, 2026.
- Merger requires stockholder vote, HSR and CFIUS clearance; termination fee for Company $39.8M, for Parent $92.9M.
- Equity commitments up to $3.3B and debt bridge facility up to $3.369B secured to fund transaction.
- Named executives receive retention bonuses: Scott Wells $660K, David Sailer and Lynn Feldman $412.5K each, Jason Dilger $174K.
- Support agreements with funds affiliated with Legion Partners, Ares Management, PIMCO, and Arturo Moreno to vote in favor.

## SEC filing metadata
- accession: 0001193125-26-043066
- form_type: 8-K
- ticker: CCO
- cik: 0001334978
- company_name: Clear Channel Outdoor Holdings, Inc.
- filed_at: 2026-02-09T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1334978/000119312526043066/0001193125-26-043066-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1334978/000119312526043066/d939743d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-043066
- JSON: https://secwatch.observer/filing/0001193125-26-043066.json
- Plain text: https://secwatch.observer/filing/0001193125-26-043066.txt

## Key facts
- Material Agreements
  Clear Channel Outdoor Holdings, Inc. entered into Agreement and Plan of Merger with Madison Parent Inc. and Madison Merger Sub Inc. (effective 2026-02-09).
  - Action: entry
  - Agreement: merger
  - Counterparty: Madison Parent Inc. and Madison Merger Sub Inc.
  - Effective: 2026-02-09
  source text: On February 9, 2026, Clear Channel Outdoor Holdings, Inc., a Delaware corporation (the “ Company ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with Madison Parent Inc., a Delaware corporation (“ Parent ”), and Madison Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“ Merger Sub ”), pursuant to which the Company is to be acquired by an investor consortium comprised of affiliates and/or certain investment funds advised by Mubadala Capital (“ Mubadala Capital ”), in partnership with TWG Global (“ TWG ” and, together with Mubadala Capital, the “ Consortium ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1334978/000119312526043066/0001193125-26-043066-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.