Three more things about the Clear Channel Outdoor sale sponsored and analyzed by SignValue.
Who are the common stock investors?
$3 billion in equity has been raised for the acquisition. The common equity will be provided by Mubadala Capital and TWG Global. Mubadala Capital is an affiliate of Mubadala Investment Company, the sovereign wealth fund of the government of Abu Dhabi. Mubadala Capital has 200 employees across five offices and $430 billion in assets. There are no out of home investments in Mubadala’s portfolio.
TWG Global is a Chicago based holding company and family investment office founded by Guggenheim partners CEO, Mark Walter. It has 40 billion assets, including investments in the LA Dodgers, the LA Lakers, Chelsea, FC and TWG motorsports. In April 2025 TWG global raised $10 billion from Mubadala Capital to purchase the LA Lakers. There are no out of home investments in TWG Global’s portfolio.
Preferred stock will be provided by the publically traded Apollo Global Management. Apollo has approximately $938 billion of assets under management. Apollo owns Yahoo, the Cox Media TV group and film producer Legendary Entertainment. There are no out of home investments in Apollo’s portfolio.
Going private
The transaction takes Clear Channel Outdoor private. No more public reports and lower legal and reporting costs.
A 4-7 year mindset
Most institutional equity investors have a 4-7 year investment horizon. A fund may have a life of 10 years with the idea of investing for 5 years and then harvesting investments for 5 years. Clear Channel is being taken private by the investors but we expect it to go public again within 5 years when performance has improved and the market conditions are right.
SignValue’s Take: None of the new Clear Channel Outdoor investors knows out of home although they are sophisticated investors with deep pockets. Clear Channel Outdoor is going private in this transaction which means fewer reporting and legal costs associated with public market compliance. We expect Clear Channel to be relisted as a public company within 5 years once performance has improved and leverage has declined below 5:1.
If you have questions, contact one of SignValue’s experienced analysts for a free and confidential consultation at info@signvalue.com or call 480-657-8400.
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