Clear Channel Outdoor Holdings, Inc. Sells Businesses in Mexico, Peru and Chile to Global Media US LLC

Core Viewpoint - Clear Channel Outdoor Holdings, Inc. has completed the sale of its businesses in Mexico, Peru, and Chile to Global Media US LLC, enhancing its focus on the American and Airports segments while improving its liquidity position [1][2][3]. Financial Summary - The company received $20 million in cash at closing, based on a$34 million Enterprise Value, and is eligible for an additional $1.25 million earn-out, subject to customary adjustments [2]. - The sale will be reported as discontinued operations in accordance with U.S. Generally Accepted Accounting Principles, affecting the presentation of prior period amounts in the financial statements [4]. Strategic Goals - The sale aligns with the company's strategic goals to optimize its portfolio and strengthen its balance sheet, as stated by the CEO [3]. - The transaction is expected to drive business growth for Global Vía Pública, leveraging their media platform for outdoor advertising campaigns [3]. Advisory and Support - Moelis & Company LLC was engaged as the financial advisor to assist with the sale process of the Latin American businesses [5]. Company Overview - Clear Channel Outdoor Holdings, Inc. is a leader in the out-of-home advertising industry, focusing on innovation through digital billboards and data analytics to enhance advertising effectiveness [6].