The transaction is expected to be completed around October 14, 2026.
San Antonio, October 7th / PRNewswire / -- Clear Channel Outdoor Holdings, Inc. (New York Stock Exchange ticker: CCO, hereinafter referred to as the "Company") today announced that it has received approval from the U.S. Committee on Foreign Investment (“CFIUS”) for the Company’s proposed acquisition by Mubadala Capital. With the approval from CFIUS, all regulatory requirements necessary to complete the merger have been met. The Company expects the merger to be completed around October 14, 2026, although additional customary closing conditions still need to be satisfied or exempted.
According to the final agreement terms previously announced, the company's shareholders will receive $2.43 in cash per share after the merger is completed. After the transaction is completed, the company's common shares will cease trading and will no longer be listed on the New York Stock Exchange.
Regarding Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (New York Stock Exchange ticker: CCO) is at the forefront of innovation in the outdoor advertising industry. The company continuously expands its digital billboards and displays, and integrates data analysis and programmatic capabilities to provide more accessible and measurable advertising campaigns, thereby expanding the base of advertisers using its media. With the scale, reach, and flexibility of its diversified asset portfolio, the company connects advertisers with millions of consumers every month.
About Mubadala Capital
Mubadala Capital is a global alternative asset management platform that manages, provides consulting for, and oversees over $755 billion in assets for clients and limited partners through its core alternative investment business and strategic partnerships.
As a subsidiary of Mubadala Investment Company, Mubadala Capital combines the scale and stability of sovereign ownership with the flexibility and focus of a performance-driven global alternative asset management company.
The core alternative business of Mubadala Capital manages and invests over $60 billion in assets, covering private equity, special opportunities with a focus on Brazil, credit and venture capital, as well as solutions and co-investment platforms. In addition, Mubadala Capital also holds a portfolio of strategic businesses and partnerships in areas such as private wealth, public credit, insurance, and real estate.
Mubadala Capital has offices in Abu Dhabi, London, New York, Rio de Janeiro, and San Francisco, and employs over 250 professionals to serve institutions and private investors seeking differentiated risk-adjusted returns in the private equity market.
Warning Regarding Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or accomplishments of Clear Channel Outdoor Holdings, Inc, and their subsidiaries (the “Company”) to differ significantly from the future results, performance, or accomplishments implied or suggested by such forward-looking statements. Words such as “will,” “intend,” “expect,” “estimate,” “believe,” “plan,” “anticipate,” “may,” and “possibly” are used to identify such forward-looking statements. In addition, any statements that refer to expectations regarding future events or circumstances are also forward-looking statements, including but not limited to: statements regarding mergers, expected timelines for completing mergers (including whether the mergers will be completed on time or not at all), and statements regarding expected benefits from mergers; our business plans and strategies and the expected benefits of business initiatives; the impact of geopolitical developments and tariffs on the macroeconomic environment; expectations regarding the use of net proceeds from the sale of our business in Spain; expectations regarding certain markets and potential improvements; industry and market trends; expectations regarding cash flow and liquidity; and our ability to retain current and new customers and maintain orders. These statements do not guarantee future performance and are subject to risks and uncertainties, some of which are beyond our control and difficult to predict.
Various risks that could lead to actual results differing from those expressed in the forward-looking statements contained in this press release include, but are not limited to: uncertainties related to the proposed merger, including the possibility of the merger not being completed in a timely manner or not being completed at all; any events, changes, or other circumstances that could result in the termination of the merger agreement, including situations where we are required to pay a termination fee under the merger agreement; failure to meet the remaining prerequisites for completing the merger; restrictions on our business operations during the merger period that may affect our ability to pursue certain business opportunities or strategic transactions, or to take actions that we otherwise might have taken; litigation related to the merger or other unexpected costs arising therefrom; ongoing economic uncertainties, economic slowdowns or recessions, or other macroeconomic factors, including geopolitical developments (including the situation in the Middle East), rising tariffs, and retaliatory trade regulations and policies; our ability to fulfill our debt obligations and to fund operating and capital expenditures; the impact of high debt; the difficulty, cost, and time required to implement our strategy, as well as the possibility that we may not be able to achieve the expected benefits in full or at all; our ability to obtain and renew key contracts with municipal authorities, traffic management agencies, and private landlords on favorable terms; competition; regulatory issues regarding privacy, digital services, data protection, cybersecurity, and the use of artificial intelligence, consumer concerns, and other challenges; breaches in information security measures; legislative or regulatory requirements; restrictions on outdoor advertising for certain products; various actual and proposed changes in environmental, health, safety, and land use laws and regulations, as well as sustainable development laws and regulations; the impact of strategic transactions that we have pursued in the past, and those that we may pursue in the future if the merger is not completed; claims or lawsuits brought against us or our suppliers by third parties; stock price fluctuations; if we remain a publicly traded company, the impact of future sales of common stock or market perception on stock prices, as well as dilution resulting from the sale of common stock or other equity-linked instruments;If the merger is not completed and we remain a publicly traded company, our ability to continue to comply with the listing standards applicable to the New York Stock Exchange; debt agreement terms that limit our operational flexibility; the impact of downgrades in our credit ratings; our dependence on senior management and other key personnel, as well as any failures to retain them due to the merger; the ongoing increased scrutiny and changing expectations from government regulatory agencies, municipal authorities, investors, lenders, customers, activists, and other stakeholders; and other factors listed in the documents we submit to the U.S. Securities and Exchange Commission (“SEC”). You should not rely too heavily on these forward-looking statements, which are only valid as of the stated date, or, if no date is provided, as of the date of this press release. For a more comprehensive discussion of risks, please refer to “Item 1A. Risk Factors” in the reports submitted by the company to SEC, including the company's annual 10-K report for the year ending December 31, 2025. Except as required by law, the company assumes no obligation to update or revise any forward-looking statements due to new information, future events, or other reasons.
