Clear Channel Outdoor's Major Move: Europe-North Segment Sold to Bauer Media
Deal News | Feb 04, 2025 | CEE Legal Matters
TGS Baltic has provided legal advisory services to Clear Channel Outdoor Holdings in the sale of its Europe-North out-of-home advertising division to Bauer Radio Limited, a subsidiary of the European media company Bauer Media Group. The transaction, valued at USD 625 million subject to adjustments, awaits regulatory approvals. This strategic divestment aims to streamline Clear Channel's business operations. Bauer Media Group, recognized for its activities in print, digital publishing, audio, and entertainment, will enhance its advertising portfolio with this acquisition. A consortium of legal advisors including Squire Patton Boggs, AG Law Limited, and others, represented Clear Channel in this substantial transaction. TGS Baltic's advisory team was composed of personnel from their Latvian, Estonian, and Lithuanian offices.
Sectors
- Media and Advertising
- Legal and Professional Services
Geography
- Europe – The transaction involves Clear Channel’s Europe-North segment and Bauer Media, implying a significant European market presence.
- United States – Clear Channel Outdoor Holdings is based in the United States, making this a cross-border transaction.
Industry
- Media and Advertising – The transaction involves Clear Channel Outdoor Holdings and Bauer Media Group, both operating in the media and advertising sectors.
- Legal and Professional Services – Multiple law firms including TGS Baltic, Squire Patton Boggs, and others were involved, providing legal advisory services.
Financials
- USD 625 million – Expected value of the sale of Clear Channel's Europe-North business to Bauer Media Group, pending adjustments.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Clear Channel Outdoor Holdings | Target Company | Company | A U.S.-based company specializing in out-of-home advertising. |
| Bauer Media Group | Bidding Company | Company | A European media group engaged in print, digital publishing, audio, and entertainment. |
| TGS Baltic | Legal Advisor | Company | Law firm advising Clear Channel on the transaction, with team members from Latvia, Estonia, and Lithuania. |
| Squire Patton Boggs | Legal Advisor | Company | One of the law firms that advised Clear Channel on this transaction. |