Clear Channel Outdoor (CCO) announced it has entered into a definitive agreement to sell the businesses constituting its Europe-North segment to Bauer Radio Limited, a subsidiary of Bauer Media Group. The expected purchase price from the transaction of $625M is subject to certain customary adjustments. The all-cash consideration represents a transaction multiple of approximately 6.5x Europe-North segment results for the twelve months ended September 30, 2024. The company will use the anticipated
This article was originally published here.
