Mubadala Capital, in partnership with U.S.-based investment firm TWG Global, has entered into a definitive agreement to acquire Clear Channel Outdoor Holdings, Inc., one of the world’s leading out-of-home (OOH) advertising companies, in an all-cash transaction valued at approximately $6.2 billion, including debt.
Under the terms of the agreement, the investor consortium will purchase 100 percent of Clear Channel’s outstanding common shares for $2.43 per share in cash. The offer represents a significant premium to the company’s unaffected share price prior to market speculation surrounding a potential sale.
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Strategic Expansion into Media Infrastructure
The acquisition underscores Mubadala Capital’s continued expansion into long-term, asset-backed investments across global markets. Clear Channel Outdoor operates an extensive portfolio of billboards, digital displays, and airport advertising assets across the United States and internationally, making it one of the largest players in the global OOH advertising industry.
By taking the company private, the consortium aims to strengthen Clear Channel’s capital structure, support digital transformation initiatives, and position the business for sustainable long-term growth without the short-term pressures of public markets.
Transaction Details and Timeline
The transaction has been unanimously approved by Clear Channel’s Board of Directors and is expected to close by the end of the third quarter of 2026, subject to customary regulatory approvals and closing conditions.
As part of the agreement, Clear Channel will enter a limited “go-shop” period, during which it may actively solicit and evaluate alternative acquisition proposals. Upon completion of the transaction, Clear Channel will be delisted from the New York Stock Exchange and transition to private ownership backed by long-term institutional capital.
Financing Structure
Mubadala Capital and TWG Global have committed close to $3 billion in equity financing to fund the transaction. Additional preferred equity investment is being provided by funds managed by Apollo Global Management, while debt financing has been secured through a lender group led by JPMorgan Chase & Co., alongside Apollo-managed funds.
The financing structure is designed to reinforce Clear Channel’s balance sheet and support continued investment in its digital advertising platforms and operational growth initiatives.
Industry Impact
The acquisition represents one of the most significant media buyouts led by Abu Dhabi capital in recent years and signals strong investor confidence in the resilience and long-term value of the global out-of-home advertising sector. As advertisers increasingly prioritize high-impact, data-driven digital displays, the OOH segment continues to evolve as a critical component of integrated marketing strategies.
With the backing of Mubadala Capital and TWG Global, Clear Channel is expected to enter a new phase of strategic development focused on innovation, operational efficiency, and sustained market leadership.
