Bauer completes acquisition of Clear Channel Europe

Bauer Media Group has completed its acquisition of Clear Channel Europe, in a move which will see the company add 110,000 out of home advertising sites to its existing audio and publishing divisions.

The deal, reportedly worth £500m, was first announced in January and has now gone through the approval process.

It sees Clear Channel Europe become Bauer Media Outdoor, with Clear Channel CEO Justin Cochrane leading the division.

Combined with Bauer’s 200 magazine brands and 150 audio brands, it is claimed advertisers will now have access to up to 350 million consumer touchpoints across 16 European markets.

Bauer Media board chair Yvonne Bauer said: “As we mark our 150th year, we are excited to open this new chapter and welcome Clear Channel Europe’s talented team to Bauer Media.

“This acquisition will drive our overall growth strategy and accelerate our digital transformation. It will enable campaigns to achieve greater impact with more creative and innovative opportunities, across audio, publishing and outdoor.”

Cochrane added: “We are hugely excited about our future as part of Bauer Media. We are ambitious about growing the business through sustainable innovation, greater reach, and creativity.

“While in the immediate term it will be business as usual, we look forward to working with our new Bauer Media colleagues, and also listening carefully to our customers and partners, to deliver exceptional advertising and infrastructure solutions in the future.”