Clear Channel Outdoor Posts 8.7% Revenue Growth Ahead of $2.43-Per-Share Buyout

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โดย Insider Monkey·US·Read original
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Clear Channel Outdoor Holdings reported second-quarter revenue of $438.0 million, up 8.7%, as the billboard and airport advertising company accelerates just before its pending take-private deal. The company agreed on February 9 to be acquired by an investor consortium advised by Mubadala Capital for $2.43 per share, a deal stockholders approved on May 12 and one expected to close by the end of the third quarter of 2026. Consolidated revenue rose 10.2% to $811.9 million over the first half, with the 2026 FIFA World Cup pulling in extra advertising spend across both segments; the America division grew revenue 7% to $324.3 million, while Airports revenue jumped 14% to $113.6 million. Adjusted EBITDA rose 11.6% to $143.4 million for the quarter and 19% to $247.3 million for the first half, and Adjusted Funds From Operations climbed 61.6% to $44.9 million in the quarter. Despite the top-line gains, Clear Channel posted a loss from continuing operations of $10 million in the quarter, reversing a $6.3 million profit a year earlier, with net interest expense of $99 million and total debt of $5.1 billion as of June 30. On August 4, Clear Channel closed the sale of its Spain business for about $132.3 million, proceeds it plans to put toward paying down debt.

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Mubadala CapitalPrivate± Mixed
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Mubadala Capital advises the investor consortium acquiring Clear Channel for $2.43 per share, but the article gives no new development on Mubadala itself.

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