Recent Updates — CCO

Clear Channel Outdoor Holdings, Inc. completed a merger transaction that resulted in the company becoming a wholly owned subsidiary of Parent. The total cash consideration payable to equityholders at closing was approximately $1.3 billion. The acquisition was funded by approximately $2.9 billion in equity investments from funds affiliated with Mubadala (MIC Capital Management UK LLP), proceeds from incremental term loans, and the Company's existing cash on hand. This transaction triggered a change of control for Clear Channel Outdoor Holdings, Inc., which operates in the outdoor advertising industry.

Mubadala Capital completed its previously announced acquisition of Clear Channel Outdoor Holdings, Inc., valuing the transaction at approximately $6.2 billion. Each outstanding share of common stock was converted into the right to receive $2.43 in cash. Concurrent with closing, Wade Davis became CEO and Executive Chairman, succeeding Scott Wells, while the entire board resigned and new directors were appointed. The company's common stock ceased trading on the New York Stock Exchange, and it requested deregistration under Section 12(b) of the Securities Exchange Act. To fund the transaction, Mubadala contributed approximately $3.3 billion in equity, supplemented by incremental term loans and cash on hand. Clear Channel Outdoor Holdings operates as a leader in U.S. out-of-home advertising.

Clear Channel Outdoor Holdings, Inc. announced on October 1, 2026, that it now expects its previously disclosed acquisition by an investor consortium advised by Mubadala Capital to close early in the fourth quarter of 2026. This update is subject to obtaining remaining required regulatory approvals and satisfying or waiving other closing conditions. The company operates in the outdoor advertising industry.

Clear Channel Outdoor Holdings reported second-quarter 2026 financial results while advancing its pending $2.43-per-share take-private merger with a consortium advised by Mubadala Capital, expected to close by the end of Q3 2026. The company completed the sale of its Spain business for approximately $132.3 million on August 4, 2026, intending to use net proceeds to reduce debt. Second-quarter revenue increased 8.7% year-over-year to $438.0 million, driven by the FIFA World Cup and strong digital demand in the America and Airports segments. Adjusted EBITDA rose 11.6% to $143.4 million, while the company reported a net loss of $5.0 million due to significant merger-related transaction costs. The company will not host an earnings call or provide guidance given the impending acquisition. Clear Channel Outdoor Holdings operates in the out-of-home advertising industry, managing billboards and airport displays.