Mubadala Capital Acquires Clear Channel Outdoor in $6.2 Billion Deal

Abu Dhabi-based Mubadala Capital has agreed to acquire US outdoor advertising giant Clear Channel Outdoor Holdings in partnership with investment firm TWG Global.

The all-cash transaction is valued at approximately $6.2 billion, making it one of the largest acquisitions in the global out-of-home advertising industry in recent years.

The deal will strengthen Mubadala Capital’s presence in international media and infrastructure while supporting Clear Channel’s next phase of growth and digital transformation.

Clear Channel Shareholders to Receive $2.43 Per Share

Under the terms of the agreement, Clear Channel shareholders will receive $2.43 per share in cash.

The offer represents a significant premium over the company’s share price before reports of a possible sale emerged in late 2025.

Clear Channel’s Board of Directors has unanimously approved the transaction. The acquisition is expected to be completed by the end of the third quarter of 2026, subject to shareholder approval, regulatory clearance, and other customary closing conditions.

Once the transaction is completed, Clear Channel Outdoor will become a privately held company and will no longer be listed on the New York Stock Exchange.

One of America’s Largest Outdoor Advertising Networks

Clear Channel Outdoor is one of the largest outdoor advertising companies in the United States.

The company operates an extensive portfolio of static and digital billboards, airport advertising displays, transit media, and street furniture across major US cities.

Following a strategic restructuring and the sale of several international operations, Clear Channel has increasingly focused on its US business.

The company currently manages more than 61,000 advertising displays across numerous metropolitan markets, giving advertisers access to high-traffic roads, airports, city centers, and major transport environments.

New Leadership Following the Acquisition

Media and technology executive Wade Davis is expected to become executive chairman of Clear Channel Outdoor once the transaction is completed.

Davis has highlighted the value of Clear Channel’s nationwide billboard network and premium airport advertising inventory.

Under the new ownership structure, the company is expected to focus on developing its digital capabilities and combining premium physical advertising locations with advanced technology, automation, and audience insights.

Clear Channel Chief Executive Officer Scott Wells said the agreement would deliver significant value to shareholders while creating greater financial flexibility for the company.

Clear Channel to Remain Headquartered in Texas

Clear Channel Outdoor is expected to retain its headquarters in San Antonio, Texas, following the completion of the deal.

The company will continue operating across the United States while focusing on digital transformation, financial stability, and long-term expansion.

If completed as planned, the acquisition will give Clear Channel greater operational flexibility away from the pressures of public markets while supporting investment in its advertising network, technology, and measurement capabilities.