Here’s the email Clear Channel Outdoor CEO Scott Wells sent to Clear Channel employees announcing Clear Channel Outdoor’s sale to Mubadala/TWG for $6.2 billion.
From: Scott Wells <CEO@clearchannel.com>
To: All employees
Subject: Clear Channel’s Next Chapter
I’m pleased to share some exciting news: Clear Channel has entered into an agreement to be acquired by Mubadala Capital, a global alternative asset management platform with deep experience in media and technology, in partnership with TWG Global. This transaction means we will become a private company and our stock will no longer be listed on the NYSE after closing. You can read the press release here https://investor.clearchannel.com/news
This moment marks the beginning of a new chapter for Clear Channel. It is a recognition of your hard work and dedication to redefining the out-of-home advertising industry. It is also a recognition of the changes we’ve made to transform our business. With strong industry tailwinds, outstanding roadside and airport inventory, and accelerating digital capabilities, we’ve built a solid foundation.
Mubadala Capital brings not only a global investment platform, but also significant resources, and deep experience building and scaling enduring businesses with discipline, while TWG Global brings industry expertise and strong networks in the media, advertising and technology sectors. Together, their support will help us enhance our financial flexibility and support ongoing deleveraging efforts after closing. With lower debt and increased cash flow following the transaction, we’ll be able to invest in the business both organically and inorganically, enabling us to pursue new avenues of growth that will better serve our customers and communities while continuing to stay true to our mission and our values.
We expect the transaction to close by the end of the third quarter of 2026, subject to completion of customary closing conditions. Until closing, we will continue to operate independently as a publicly traded company: it is business as usual. I ask that you remain focused on delivering strong growth and great results for our customers and supporting each other.
We’ll be hosting a webinar town hall tomorrow, Tuesday, February 10th at 12:00PM ET to discuss this announcement in more detail and answer your questions to the extent we are able. Please submit your questions in advance to ceo@clearchannel.com. In the meantime, as a reminder, please direct any external inquiries to Laura Kiernan in Investor Relations. A calendar invite with link to the webinar will be sent following this email.
Thank you for the work you do every day and the contributions you make to our company. We have an incredible team and I am enthusiastic about what is ahead and grateful for your continued dedication as we enter this new chapter together.
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