Clear Channel Outdoor Holdings, Inc. announced on October 14, 2026, that it has completed its acquisition by Mubadala Capital. The transaction, valued at approximately $6.2 billion, closed following the receipt of all applicable regulatory approvals and approval by Clear Channel stockholders.
Concurrent with the closing, Clear Channel’s common stock will cease trading and will be delisted from the New York Stock Exchange. The company also entered into an eighth amendment to its credit agreement with Deutsche Bank AG New York Branch. Under this amendment, Clear Channel incurred $100 million of incremental term loans, the proceeds of which were used to fund payments related to the merger and for general corporate purposes. Additionally, the company terminated its revolving credit facility commitment, reducing it to zero.
In leadership changes, Wade Davis has become Chief Executive Officer of Clear Channel, succeeding Scott Wells, who stepped down from the role of CEO and from the Board of Directors. Mr. Wells will serve as an advisor to support a smooth transition. Mr. Davis has also joined the Board as Executive Chairman. John Halley has been appointed Chief Commercial Officer.
Clear Channel’s common stock will be redeemed in full on October 24, 2026, at a price equal to 100% of the principal amount plus accrued interest. The company also satisfied and discharged indentures governing its 7.750% Senior Notes due 2028 and 7.500% Senior Notes due 2029, which were redeemed at a price of 100% of the principal amount.
