Bauer Media Group has finalised its purchase of Clear Channel’s Europe-North division — a deal first announced in January.
All approvals and regulatory conditions have been met, the company said.
As part of the acquisition, Clear Channel Europe-North has been renamed Bauer Media Outdoor. This is Bauer’s first foray into OOH.
According to Bauer, the deal provides advertisers an “enhanced offering and greater reach” through 200 magazine brands, 150 audio brands and 110,000 OOH sites.
“We are ambitious about growing the business through sustainable innovation, greater reach and creativity,” commented Justin Cochrane, UK and Europe CEO of the newly-minted Bauer Media Outdoor.
“Whilst in the immediate term it will be business as usual, we look forward to working with our new Bauer Media colleagues, and also listening carefully to our customers and partners, to deliver exceptional advertising and infrastructure solutions in the future.”
Yvonne Bauer, chair of Bauer Media’s board, added that the acquisition gives advertisers “up to 350m consumer touchpoints across 16 European markets”.
She noted: “This acquisition will drive our overall growth strategy and accelerate our digital transformation.”
