Prnewswire·2026-02-09 22:32Core Viewpoint - Clear Channel Outdoor Holdings, Inc. has entered into a definitive agreement to be acquired by Mubadala Capital and TWG Global for an enterprise value of $6.2 billion, with shareholders receiving $2.43 per share in cash, representing a 71% premium to the unaffected share price [1][3]. Transaction Overview - The acquisition aims to create a streamlined ownership structure supported by long-term capital from Mubadala Capital, with approximately $3 billion of equity capital committed to enhance financial flexibility and support growth initiatives [2]. - The transaction has been unanimously approved by Clear Channel's Board of Directors and is expected to close by the end of Q3 2026, pending regulatory approvals and shareholder consent [6]. Financial Implications - The purchase price of $2.43 per share reflects a significant premium over the last trading price of $1.42 on October 16, 2025, prior to media reports about the acquisition [3]. - The investment is expected to reduce debt and increase cash flow, positioning Clear Channel for long-term growth [4]. Leadership and Strategic Direction - Wade Davis, a media and technology veteran, is expected to join Clear Channel as Executive Chairman to support the company's transformation [2]. - The investor group will collaborate closely with Clear Channel's management to drive strategic direction and operational execution [7]. Financing Structure - Equity financing will be provided by Mubadala Capital and TWG, with additional preferred equity investment from Apollo-managed funds [8]. - Debt financing has been secured from a group led by JPMorgan Chase Bank and Apollo Funds [9]. Shareholder Engagement - Clear Channel will have a 45-day "go-shop" period to solicit alternative acquisition proposals, which will end on March 26, 2026 [10]. - Approximately 48% of Clear Channel's outstanding shares have already committed to support the transaction through voting agreements [11].