Mubadala Capital has completed its acquisition of Clear Channel Outdoor Holdings, taking the US out-of-home advertising group private in a transaction valued at about $6.2bn.
Why Mubadala Capital is buying Clear Channel Outdoor Holdings
When the deal was agreed in February, the buyers said the roughly $3bn of equity committed would support deleveraging, fund growth and strengthen the company's financial flexibility.
Deal terms and financing
Stockholders receive $2.43 a share in cash, a 71% premium to the unaffected price of $1.42 on 16 October 2025, before media speculation about a deal. Mubadala Capital led the consortium, with TWG Global, co-led by Mark Walter and Thomas Tull, as partner; debt financing came from a group led by JPMorgan Chase Bank and Apollo-managed funds, which also invested preferred equity.
Regulatory approvals and timing
The transaction closed after all applicable regulatory approvals and approval by Clear Channel stockholders. The company's common stock will cease trading and be delisted from the New York Stock Exchange.
Market context
Wade Davis has become chief executive and joined the board as executive chairman, succeeding Scott Wells, who has stepped down from the role and the board and will advise on the transition. John Halley joins as chief commercial officer. The deal had originally been expected to close by the end of the third quarter.
