Clear Channel Issues Update On Sale Of Switzerland Business - Quick Facts

(RTTNews) - Clear Channel Outdoor Holdings, Inc. (CCO) announced the sale of its Switzerland business to Goldbach Group has received regulatory approval from the Swiss Competition Commission. The company now expects the transaction to close late in the first quarter or early in the second quarter of 2023.

On December 22, 2022, Clear Channel announced the definitive agreement to sell its business in Switzerland to Goldbach, an affiliate of TX Group AG, for $92.7 million. The sale was the result of the company's review of strategic alternatives for its European businesses.