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Bauer Media Group have purchased OOH advertiser, Clear Channel Europe, which includes more than 100,000 advertising spaces and 1,600 dedicated employees
Media conglomerate, Bauer Media Group, has announced that it will acquire out-of-home (OOH) advertising firm, Clear Channel Europe, in a deal worth a reported for $625m (£512m).
The purchase of the UK-headquartered company, which is expected to close in 2025 subject to regulatory approvals, will significantly extend Bauer Media’s European OOH coverage.
Clear Channel Europe’s OOH infrastructure spans 13 national markets with more than 100,000 advertising spaces and 1,600 dedicated employees. This includes seven markets where Bauer Media already has an established presence as well as five new markets for the company.
The transaction was also reportedly made to enhance Bauer Media’s growing digital out-of-home (DOOH) market offering. Clear Channel’s UK network includes a significant DOOH offering as its Adshel Live digital network includes over 3,500 screens, positioning it as the UK’s largest DOOH network.
The purchase will also include the purchase of 200 magazine brands and 150 audio brands from Clear Channel. According to Bauer Media, joining the two companies’ offerings will enable Bauer to reach a combined 350 million consumers.
According to Bauer, one in three UK magazines sold are already Bauer owned, making them one of the leading UK publishers.
Commenting on the purchase, Yvonne Bauer, chair of the Bauer Media board, says: “The acquisition of Clear Channel Europe represents a pivotal step in advancing our group’s refocused strategy.
“By enhancing our core media and related businesses while investing in our digital transformation, this move broadens our capabilities and strengthens our position as a major player in the highly competitive media industry.”
Justin Cochrane, chief executive officer of Clear Channel Outdoor, UK and Europe, adds: “We look forward to joining Bauer Media to build upon the strong foundation that we have established in these European markets as a part of Clear Channel Outdoor.
“The consistent top-line performance of our Europe-North assets year-to-date underscores the growing demand in these markets and the dedication of our teams to executing for our clients and partners.”
Bauer adds: “We look forward to welcoming the Clear Channel team to Bauer Media. Together we will create a comprehensive and innovative media offering that meets the evolving needs of our advertisers and audiences across the region.”
