Bauer to buy Clear Channel Europe for $625 million subject to approval

Bauer has announced it is buying Clear Channel Europe – a significant player in the Out of Home media sector with 1400 staff.

The transaction, worth $625 million, is expected to close in 2025, upon satisfaction of regulatory approvals.

The acquisition of Clear Channel Europe gives Bauer Media an additional offering in 12 markets, the United Kingdom, Belgium, Denmark, Estonia, Finland, Ireland, Latvia, Lithuania, the Netherlands, Norway, Poland and Sweden.

It will give Bauer access to over 40,000 advertising sites across the UK, and follows Global’s move into the OOH sector in 2018 when it bought Exterion, Primesight and Outdoor Plus.

Yvonne Bauer, Chair of the Bauer Media Board said: “The acquisition of Clear Channel Europe represents a pivotal step in advancing our Group’s refocused
strategy. By enhancing our core media and related businesses while investing in our digital transformation, this move broadens our capabilities and strengthens our position as a major player in the highly competitive media industry.”

“Bringing together our two companies’ offerings will enable us to reach 350 million consumers through 200 magazine brands, 150 Audio brands, and 110,000 Out of Home sites across Europe. This expands the scope of what we can offer advertisers, in turn giving them the opportunity to amplify the impact and relevance of their campaigns in an increasingly connected and digital world.”

“We look forward to welcoming the Clear Channel team to Bauer Media. Together, we will create a comprehensive and innovative media offering that meets the evolving needs of our advertisers and audiences across the region,” she continued.

Justin Cochrane, Chief Executive Officer of Clear Channel Outdoor UK & Europe added, “We look forward to joining Bauer Media to build upon the strong foundation that we have established in these European markets as a part of Clear Channel Outdoor. The consistent top-line performance of our Europe-North assets year-to-date underscores the growing demand in these markets and the dedication of our teams to executing for our clients and partners.”

Bauer Media’s lead M&A adviser was LionTree Advisers. Reed Smith served as legal adviser. The company was also advised by OOH Capital, Deloitte and Herbert Smith Freehills.