Clear Channel Outdoor Holdings, Inc. Sells Businesses in Mexico, Peru and Chile to Global Media US LLC
Clear Channel Outdoor Holdings (NYSE: CCO) has completed the sale of its businesses in Mexico, Peru, and Chile to Global Media US (Global Vía Pública) in a simultaneous sign and close transaction. The deal is valued at $34 million Enterprise Value, with $20 million received in cash at closing and potential for an additional $1.25 million earn-out, subject to customary adjustments.
The company plans to use the net proceeds to improve its liquidity position. The transaction is part of CCO's strategy to optimize its portfolio and focus on growing its America and Airports segments while strengthening its balance sheet. The sales process for the remaining Latin American business in Brazil continues.
Starting with Q4 2024 results, the sold businesses will be reported as discontinued operations, with assets, liabilities, and results presented separately in the company's financial statements. Moelis & Company served as financial advisor for the Latin American businesses sale process.
Clear Channel Outdoor Holdings (NYSE: CCO) ha completato la vendita delle sue attività in Messico, Peru e Cile a Global Media US (Global Vía Pública) in una transazione che ha visto firma e chiusura simultanee. L'affare ha un valore di 34 milioni di dollari di valore d'impresa, con 20 milioni di dollari ricevuti in contante al momento della chiusura e la possibilità di un ulteriore guadagno di 1,25 milioni di dollari, soggetto a normali aggiustamenti.
L'azienda prevede di utilizzare il netto ricavato per migliorare la sua posizione di liquidità. La transazione fa parte della strategia di CCO per ottimizzare il proprio portafoglio e concentrarsi sulla crescita dei segmenti America e Aeroporti, rafforzando al contempo il proprio bilancio. Il processo di vendita per il restante business latinoamericano in Brasile continua.
A partire dai risultati del quarto trimestre 2024, le attività vendute saranno riportate come operazioni discontinue, con attività, passività e risultati presentati separatamente nei bilanci dell'azienda. Moelis & Company ha funto da consulente finanziario per il processo di vendita delle attività latinoamericane.
Clear Channel Outdoor Holdings (NYSE: CCO) ha completado la venta de sus negocios en México, Perú y Chile a Global Media US (Global Vía Pública) en una transacción de firma y cierre simultáneo. El acuerdo tiene un valor de 34 millones de dólares en valor empresarial, con 20 millones de dólares recibidos en efectivo al cierre y un potencial adicional de 1,25 millones de dólares, sujeto a ajustes habituales.
La empresa planea usar los ingresos netos para mejorar su posición de liquidez. La transacción es parte de la estrategia de CCO para optimizar su cartera y enfocarse en el crecimiento de sus segmentos de América y Aeropuertos, al tiempo que fortalece su balance. El proceso de venta del negocio latinoamericano restante en Brasil continúa.
A partir de los resultados del cuarto trimestre de 2024, los negocios vendidos se informarán como operaciones descontinuadas, con activos, pasivos y resultados presentados por separado en los estados financieros de la empresa. Moelis & Company actuó como asesor financiero para el proceso de venta de los negocios latinoamericanos.
클리어 채널 야외 홀딩스 (NYSE: CCO)는 멕시코, 페루, 칠레의 사업을 글로벌 미디어 US (글로벌 비아 퍼블리카)에 동시에 서명 및 마감하는 거래로 매각을 완료했습니다. 이 거래는 3400만 달러의 기업 가치로 평가되며, 마감 시 2000만 달러가 현금으로 지급됩니다. 추가로 125만 달러의 성과 보상 가능성이 있으며, 이는 통상적인 조정이 적용됩니다.
회사는 순수익을 활용하여 유동성 상태를 개선할 계획입니다. 이 거래는 CCO의 포트폴리오 최적화 전략의 일환이며, 미국 및 공항 사업 부문의 성장에 집중하고 동시에 재무 상태를 강화하는 것입니다. 브라질의 나머지 라틴 아메리카 사업에 대한 판매 과정은 계속 진행 중입니다.
2024년 4분기 결과부터는 매각된 사업이 중단된 운영으로 보고되며, 자산, 부채 및 결과는 회사 재무제표에 별도로 나타납니다. 모엘리스 & 컴퍼니는 라틴 아메리카 사업 매각 과정에 대한 재정 자문 역할을 수행했습니다.
Clear Channel Outdoor Holdings (NYSE: CCO) a finalisé la vente de ses activités au Mexique, au Pérou et au Chili à Global Media US (Global Vía Pública) lors d'une transaction simultanée de signature et de clôture. L'accord est évalué à 34 millions de dollars de valeur d'entreprise, avec 20 millions de dollars reçus en espèces à la clôture et un potentiel de rémunération supplémentaire de 1,25 million de dollars, sous réserve des ajustements habituels.
L'entreprise prévoit d'utiliser les fonds nets pour améliorer sa position de liquidité. La transaction fait partie de la stratégie de CCO pour optimiser son portefeuille et se concentrer sur la croissance de ses segments Amérique et Aéroports tout en renforçant son bilan. Le processus de vente pour le reste de l'activité latino-américaine au Brésil se poursuit.
À partir des résultats du quatrième trimestre 2024, les entreprises vendues seront présentées comme des opérations abandonnées, les actifs, passifs et résultats étant présentés séparément dans les états financiers de l'entreprise. Moelis & Company a servi de conseiller financier pour le processus de vente des activités latino-américaines.
Clear Channel Outdoor Holdings (NYSE: CCO) hat den Verkauf seiner Geschäfte in Mexiko, Peru und Chile an Global Media US (Global Vía Pública) in einer simultanen Unterzeichnungs- und Abschluss-Transaktion abgeschlossen. Der Deal hat einen Wert von 34 Millionen Dollar Unternehmenswert, wobei 20 Millionen Dollar bei Abschluss in bar erhalten wurden und das Potenzial für einen zusätzlichen Earn-Out von 1,25 Millionen Dollar, vorbehaltlich üblicher Anpassungen.
Das Unternehmen plant, die Nettoerlöse zur Verbesserung seiner Liquiditäts position zu verwenden. Die Transaktion ist Teil von CCOs Strategie, sein Portfolio zu optimieren und sich auf das Wachstum seiner Segmente Amerika und Flughäfen zu konzentrieren, während es gleichzeitig seine Bilanz stärkt. Der Verkaufsprozess für das verbleibende lateinamerikanische Geschäft in Brasilien läuft weiter.
Ab Beginn des vierten Quartals 2024 werden die verkauften Geschäfte als aufgegebene Betriebe ausgewiesen, mit Vermögenswerten, Verbindlichkeiten und Ergebnissen, die in den Finanzberichten des Unternehmens separat dargestellt werden. Moelis & Company diente als Finanzberater für den Verkaufsprozess der lateinamerikanischen Geschäfte.
- Immediate cash injection of $20 million with potential additional $1.25 million earn-out
- Strategic portfolio optimization focusing on core America and Airports segments
- Improvement in liquidity position
- Reduction in geographic market presence and revenue streams
- Discontinued operations accounting treatment may impact financial statement comparability
Insights
The $20 million cash sale of Clear Channel Outdoor's Latin American assets represents a strategic pivot that warrants careful analysis from multiple angles. The transaction's structure, with an Enterprise Value of
The financial implications are multifaceted. First, the immediate cash injection strengthens CCO's liquidity position, important given the company's historical debt burden. The transaction's accounting treatment as discontinued operations will provide investors with cleaner financial statements, enabling better assessment of core operations' performance in the Americas and Airports segments.
Strategic benefits extend beyond the balance sheet. By divesting these Latin American operations, CCO can:
- Reduce operational complexity and management overhead
- Focus resources on higher-margin markets
- Potentially achieve better economies of scale in remaining segments
- Improve overall operational efficiency
The ongoing sale process for Brazilian operations suggests this is part of a broader portfolio optimization strategy. This systematic approach to market exits indicates a disciplined capital allocation strategy, potentially setting the stage for improved profitability metrics in remaining operations.
For investors, this transaction signals management's commitment to streamlining operations and strengthening the balance sheet. The simultaneous sign-and-close nature of the deal minimizes execution risk and accelerates the realization of benefits. The potential earn-out structure aligns interests with the buyer while providing CCO shareholders with possible upside.
The Company has received
"The sale of our
"This transaction aligns with our strategic goals and strengthens our established Latin American business," said Federico Diez, President of Global Vía Pública. "We are excited about the opportunity to continue driving business growth and leverage our media platform and teams to deliver dynamic outdoor advertising campaigns for our customers."
The sales process for the remaining Latin American business in
Accounting Treatment
During the fourth quarter of 2024, the Company's plan to sell the businesses in
Advisors
The Company engaged Moelis & Company LLC as financial advisor to assist with the process to sell the Company's Latin American businesses.
About Clear Channel Outdoor Holdings
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. The words "expect," "anticipate," "estimate" 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 our
Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this press release are described in the section entitled "Item 1A. Risk Factors" of the Company's reports filed with the SEC, including the Company's Annual Report on Form 10-K for the year ended December 31, 2023. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.
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SOURCE Clear Channel Outdoor Holdings, Inc.
FAQ
What is the total value of Clear Channel Outdoor's (CCO) Mexico, Peru, and Chile business sale?
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