Clear Channel Outdoor sells businesses in Mexico, Peru and Chile to Global Media

Clear Channel Outdoor Holdings, Inc. recently announced it has completed the sale of its businesses in Mexico, Peru and Chile to Global Media US LLC, doing business as Global Vía Pública in a simultaneous sign and close transaction.

The Company has received $20 million cash at closing based on a $34 million Enterprise Value. The Company is also eligible to receive an additional $1.25 million earn-out.

The consideration may be subject to further customary adjustments. The Company intends to use the anticipated net proceeds from the sale to improve its liquidity position.

Scott Wells, Chief Executive Officer, Clear Channel Outdoor Holdings, Inc: "The sale of our Mexico, Peru, and Chile businesses further demonstrates the progress we are making to optimize our portfolio and focus on growing our America and Airports segments while strengthening our balance sheet. The completion of this transaction reflects the commitment and dedication of our team, and I would like to thank all of our colleagues in these markets for their hard work."

Federico Diez, President, Global Vía Pública: "This transaction aligns with our strategic goals and strengthens our established Latin American business. We are excited about the opportunity to continue driving business growth and leverage our media platform and teams to deliver dynamic outdoor advertising campaigns for our customers."

The sales process for the remaining Latin American business in Brazil is ongoing.

www.clearchanneloutdoor.com

www.globalviapublica.com

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