Mubadala Capital explores buying Clear Channel Outdoor

(Bloomberg) — Mubadala Capital is exploring an acquisition of Clear Channel Outdoor Holdings Inc., according to people familiar with the matter. The asset management arm of Abu Dhabi sovereign wealth fund Mubadala Investment Co. was working on a possible deal for the billboard operator, the people said, asking not to be identified because the matter is private. Clear Channel Outdoor shares rose 9.5% on Friday, giving the company a market value of $773 million. The company has about $6.4 billion in debt, according to data compiled by Bloomberg. Discussions are ongoing and Mubadala Capital may decide not to pursue a deal, the people said. Representatives for Mubadala Capital and Clear Channel declined to comment. The news comes as Clear Channel Outdoor is under pressure from activist investor Anson Funds Management to sell itself, Bloomberg News previously reported. For Mubadala Capital, the potential privacy is the latest sign of its global ambitions. The firm has a vast global portfolio but is not a major player in US media investments. Earlier this year, Mubadala Capital sold a minority stake in itself to TWG Global, an investment firm led by Guggenheim Partners founder Mark Walter and financier Thomas Tull. It came after the asset manager bought Canadian mutual fund manager CI Financial Corp. snapped up in one of the largest privatizations by an Abu Dhabi entity. Trading in the outdoors has been heating up lately. An investor group led by I Squared Capital has planned a bid for the German media group Ströer SE & Co. ‘s core advertising business, which could value the operation at €3.5 billion ($4.1 billion), Bloomberg News reported. Warren Buffett’s Berkshire Hathaway Inc. became a shareholder in Clear Channel rival Lamar Advertising, an August filing showed. More stories like this are available on bloomberg.com ©2025 Bloomberg LP

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