The company said its Mubadala Capital-backed merger is expected to close by the end of the third quarter of 2026, while a Spain business sale brought in about $132.3 million.
Clear Channel Outdoor Holdings reported stronger second-quarter revenue and adjusted earnings as advertising demand improved in its America and Airports segments, even as the company posted a loss from continuing operations and moved toward a pending take-private deal. Consolidated revenue rose 8.7% year over year to $438.0 million in the quarter ended June 30, 2026, while Adjusted EBITDA (a non-GAAP profit measure) increased 11.6% to $143.4 million and AFFO (adjusted funds from operations) climbed 61.6% to $44.9 million. The company said an investor consortium comprised of affiliates and-or certain investment funds advised by Mubadala Capital will acquire outstanding common shares for $2.43 in cash per share, with closing expected by the end of the third quarter of 2026, subject to remaining conditions including review by CFIUS (U.S. foreign investment review panel). Clear Channel also completed the sale of its Spain business on August 4 for approximately $132.3 million and said it intends to use the net proceeds to further reduce debt, subject to the outcome of the merger.