Clear Channel has denied that it is in talks with JDecaux or any other company about the sale of its outdoor arm Clear Channel Outdoor.
In a statement, Clear Channel said: “Clear Channel Communications and Clear Channel Outdoor Holdings today confirmed that they are not in discussions with JCDecaux, or any other company, involving the sale of Clear Channel Outdoor Holdings Inc, and have no current intention to effect a disposition of Clear Channel Outdoor Holdings Inc, as a stand-alone business.”
At the start of November it was reported that JCDecaux was interested in making a bid for the outdoor company which would have seen it become the world’s largest outdoor advertising company, worth an estimated €12 billion (see JCDecaux Could Bid For Clear Channel Outdoor).
Clear Channel Outdoor, a larger company than JCDecaux, is understood to have a market value of $9 billion.
Clear Channel Communications, the controlling shareholder in Clear Channel Outdoor, was acquired by a private equity firms Bain Capita and Thomas H Lee in November for $19 billion (see Clear Channel Sold For $19 Billion).
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