Clear Channel Outdoor Holdings, Inc. Completes Sale of its Europe-North Segment to a Subsidiary of Bauer Media Group
Clear Channel Outdoor Holdings (NYSE: CCO) has completed the sale of its Europe-North segment to Bauer Radio , a subsidiary of Bauer Media Group, for $625 million. The net cash proceeds received totaled $243 million after prepaying $375 million in CCIBV term loans plus $12 million in accrued interest.
The company plans to use the remaining proceeds to retire the most advantageous debt in its capital structure, aiming to reduce cash interest and increase AFFO. This transaction is part of broader international divestitures totaling $745 million in purchase consideration. CCO remains optimistic about divesting its businesses in Spain and Brazil, citing their strong performances in 2024.
Clear Channel Outdoor Holdings (NYSE: CCO) ha completato la vendita del suo segmento Europa-Nord a Bauer Radio, una filiale di Bauer Media Group, per 625 milioni di dollari. I proventi netti ricevuti ammontano a 243 milioni di dollari dopo aver rimborsato 375 milioni di dollari in prestiti a termine CCIBV più 12 milioni di dollari di interessi maturati.
L'azienda prevede di utilizzare i proventi rimanenti per estinguere il debito più vantaggioso nella sua struttura di capitale, con l'obiettivo di ridurre gli interessi in contante e aumentare l'AFFO. Questa transazione fa parte di dismissioni internazionali più ampie per un totale di 745 milioni di dollari in considerazione d'acquisto. CCO rimane ottimista riguardo alla dismissione delle sue attività in Spagna e Brasile, citando le loro forti performance nel 2024.
Clear Channel Outdoor Holdings (NYSE: CCO) ha completado la venta de su segmento Europa-Norte a Bauer Radio, una subsidiaria de Bauer Media Group, por 625 millones de dólares. Los ingresos netos recibidos totalizaron 243 millones de dólares después de prepagar 375 millones de dólares en préstamos a plazo CCIBV más 12 millones de dólares en intereses acumulados.
La empresa planea utilizar los ingresos restantes para cancelar la deuda más ventajosa en su estructura de capital, con el objetivo de reducir los intereses en efectivo y aumentar el AFFO. Esta transacción es parte de desinversiones internacionales más amplias por un total de 745 millones de dólares en consideración de compra. CCO se mantiene optimista sobre la desinversión de sus negocios en España y Brasil, citando su sólido desempeño en 2024.
Clear Channel Outdoor Holdings (NYSE: CCO)는 Bauer Media Group의 자회사인 Bauer Radio에 유럽-북부 부문을 6억 2,500만 달러에 매각 완료했습니다. 받은 순 현금 수익은 CCIBV 기간 대출 3억 7,500만 달러와 발생 이자 1,200만 달러를 선지급한 후 2억 4,300만 달러에 달합니다.
회사는 남은 수익을 자본 구조에서 가장 유리한 부채를 상환하는 데 사용할 계획이며, 현금 이자를 줄이고 AFFO를 증가시키는 것을 목표로 하고 있습니다. 이번 거래는 총 7억 4,500만 달러의 구매 대가를 포함하는 더 넓은 국제 매각의 일환입니다. CCO는 스페인과 브라질의 사업 매각에 대해 낙관적이며, 2024년의 강력한 실적을 언급하고 있습니다.
Clear Channel Outdoor Holdings (NYSE: CCO) a finalisé la vente de son segment Europe-Nord à Bauer Radio, une filiale de Bauer Media Group, pour 625 millions de dollars. Les produits nets reçus se sont élevés à 243 millions de dollars après avoir remboursé 375 millions de dollars de prêts à terme CCIBV ainsi que 12 millions de dollars d'intérêts courus.
L'entreprise prévoit d'utiliser les produits restants pour rembourser la dette la plus avantageuse de sa structure de capital, visant à réduire les intérêts en espèces et à augmenter l'AFFO. Cette transaction fait partie de désinvestissements internationaux plus larges totalisant 745 millions de dollars en considération d'achat. CCO reste optimiste quant à la cession de ses activités en Espagne et au Brésil, citant leurs solides performances en 2024.
Clear Channel Outdoor Holdings (NYSE: CCO) hat den Verkauf seines Europa-Nord-Segments an Bauer Radio, eine Tochtergesellschaft der Bauer Media Group, für 625 Millionen Dollar abgeschlossen. Die erhaltenen Nettobarerlöse beliefen sich auf 243 Millionen Dollar, nachdem 375 Millionen Dollar an CCIBV-Darlehen sowie 12 Millionen Dollar an aufgelaufenen Zinsen vorzeitig zurückgezahlt wurden.
Das Unternehmen plant, die verbleibenden Erlöse zur Rückzahlung der vorteilhaftesten Schulden in seiner Kapitalstruktur zu verwenden, mit dem Ziel, die Barzinsen zu senken und das AFFO zu erhöhen. Diese Transaktion ist Teil umfassender internationaler Veräußerungen mit einem Gesamtwert von 745 Millionen Dollar an Kaufpreis. CCO bleibt optimistisch bezüglich der Veräußerung seiner Geschäfte in Spanien und Brasilien und verweist auf deren starke Leistungen im Jahr 2024.
- Received $243 million in net cash proceeds from the sale
- Reduced debt by paying off $375 million in term loans
- Total international divestitures reached $745 million
- Strong performance of Spain and Brazil businesses increases likelihood of successful future divestitures
- Significant portion of sale proceeds ($387 million) went to debt repayment rather than operations
- Reduction in international market presence and revenue streams
The purchase price from the transaction was
"With the sale of our Europe-North segment completed, we have closed international divestitures amounting to approximately
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is at the forefront of driving innovation in the out-of-home advertising industry. Our dynamic advertising platform is broadening the pool of advertisers using our medium through the expansion of digital billboards and displays and the integration of data analytics and programmatic capabilities that deliver measurable campaigns that are simpler to buy. By leveraging the scale, reach and flexibility of our diverse portfolio of assets, we connect advertisers with millions of consumers every month.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company and its subsidiaries to be materially different from any future results, performance, achievements, guidance, goals and/or targets expressed or implied by such forward-looking statements. The words "guidance," "believe," "expect," "anticipate," "estimate," "forecast," "goals," "targets" and similar words and expressions are intended to identify such forward-looking statements. In addition, any statements that refer to expectations or other characterizations of future events or circumstances, such as the use of proceeds from the sale of the businesses in the Europe-North segment, the expected benefits from the sale, the results of the Company's priorities and expectations with respect to the sales processes relating to the businesses in
Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this press release include, but are not limited to: continued economic uncertainty, an economic slowdown or a recession, including as a result of increased tariffs and retaliatory trade regulations and policies; the difficulty, cost and time required to implement our strategy, and the fact that we may not realize the anticipated benefits therefrom; the potential sales of our businesses in
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SOURCE Clear Channel Outdoor Holdings, Inc.