Bauer Media will expand into new markets with the acquisition of Clear Channel’s Europe North business.
Clear Channel Europe North includes the US-headquartered out-of-home group’s UK business and 11 other markets: Belgium, Denmark, Estonia, Finland, Ireland, Latvia, Lithuania, the Netherlands, Norway, Poland and Sweden.
The operations employ 1,400 staff and its leadership team will remain in place as part of the deal.
Bauer Media chair Yvonne Bauer described the buy as a “pivotal step” in advancing the 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,” she said.
‘’Bringing together our two companies’ offerings will enable us to reach 350 million consumers through 200 magazine brands, 150 audio brands, and 110,000 out of home sites across Europe. This expands the scope of what we can offer advertisers, in turn giving them the opportunity to amplify the impact and relevance of their campaigns in an increasingly connected and digital world.”
The terms of the deal were not disclosed. It is expected to complete later this year, subject to regulatory approval.
Clear Channel had previously sold its Italian business to JCDecaux, and its German wing to Goldbach Group.
Clear Channel International, registered in the UK, had sales of £52.7m in 2023.
Clear Channel claims that its UK platform reaches 90% of the population, with more than 33,000 sites. It spans a growing number of digital screens, currently more than 5,000, as well as 48- and 96-sheet billboards, Adshel six-sheet posters, retail locations and stations.
Bauer Media’s UK portfolio includes the country’s biggest selling magazine title, TV Choice. Germany-headquartered parent Bauer Media Group is one of the largest privately-owned media businesses in the world.
Bauer Media's lead M&A adviser was LionTree Advisers, legal advice was through Reed Smith. The company was also advised by OOH Capital, Deloitte and Herbert Smith Freehills.
Note: this article was updated with new information from Clear Channel about its UK platform.
