Clear Channel Outdoor Holdings, Inc. announced the completion of its sale of operations in Mexico, Peru, and Chile to Global Media US LLC, operating as Global Vía Pública, in a simultaneous sign-and-close transaction. The deal, finalized on [insert date], underscores Clear Channel’s ongoing efforts to streamline its portfolio and bolster liquidity.
The company received 20 million in cash at closing, based on a 20 million in cash at closing, based on a 34 million enterprise value. An additional $1.25 million earn-out is contingent on future performance, with final consideration subject to customary adjustments. Proceeds from the sale are earmarked to strengthen Clear Channel’s liquidity position.
Scott Wells, CEO of Clear Channel Outdoor Holdings, stated, “The sale of our Mexico, Peru, and Chile businesses further demonstrates the progress we are making to optimize our portfolio and focus on growing our America and Airports segments while strengthening our balance sheet.” Wells also acknowledged the contributions of employees in these markets, emphasizing their “commitment and dedication.”
Global Vía Pública’s President, Federico Diez, highlighted the transaction’s alignment with his company’s regional strategy. “This transaction strengthens our established Latin American business,” Diez said. “We are excited about the opportunity to continue driving growth and leverage our media platform and teams to deliver dynamic outdoor advertising campaigns.”
Clear Channel confirmed that the sales process for its remaining Latin American asset in Brazil is ongoing. No timeline or further details were provided.
The divested businesses will be reported as discontinued operations starting with Clear Channel’s fourth-quarter 2024 financial results. Under U.S. GAAP, assets, liabilities, and results from these operations will be presented separately in consolidated financial statements, with prior-period amounts restated for consistency.
About Global Vía Pública: Part of Global Media US LLC, specializes in outdoor advertising across Latin America, focusing on innovative media solutions and customer-driven campaigns.
