Bauer Media Group is acquiring Clear Channel Europe-North.
The purchase will expand Bauer Media’s European business by, for the first time, moving into the OOH advertising sector. Bauer currently operates publishing and audio businesses in the UK.
If it passes regulatory approval, the acquisition is expected to close this year. The deal would strengthen Bauer’s competition with rival Global, which operates in audio and OOH. Global entered the OOH sector in 2018 with three acquisitions.
Currently, Clear Channel’s Europe-North division is active in 12 markets (including five in which Bauer does not yet operate): the UK, Belgium, Denmark, Estonia, Finland, Ireland, Latvia, Lithuania, the Netherlands, Norway, Poland and Sweden.
Its leadership team will be retained to lead the OOH operations, as well as the 1,400 staff currently employed by the company as it transitions under Bauer’s ownership.
Clear Channel put up its Europe-North business for sale in November 2023. At the time, Clear Channel UK and Europe CEO Justin Cochrane said it was “no secret” that Clear Channel wanted to become a US-only business.
The company had already sold its Swiss, Italian and French businesses, but the planned sale of the Spain division collapsed under regulatory scrutiny in October 2024. The company has also looked to sell off its Latin American arm.
In an earlier interview with The Media Leader, Cochrane said the desire to become a US-only business stemmed from wanting to offer greater tax breaks by becoming a real estate investment trust (REIT).
At the time, he added that his “mission” was to “find the right owner for the rest of the European business in the right time” and that the new owner would likely be “somebody that really buys into the media, wants to invest in it and buys into our plans”.
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Yvonne Bauer, chair of the Bauer board, said the acquisition “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.”
She continued: “Bringing together our two companies’ offerings will enable us to reach 350m consumers through 200 magazine brands, 150 audio brands and 110,000 OOH 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.
“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.”
Cochrane added: “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. 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.”
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