Bauer Media to acquire Europe-North segment of Clear Channel Outdoor for $625m.

Bauer Media, a German multimedia conglomerate, agreed to acquire Europe-North segment of Clear Channel Outdoor, an outdoor advertising platform provider, for $625m. "This agreement to sell our Europe-North segment is another significant step in the execution of our strategic plan to optimize our portfolio and focus on growing our America and Airports segments to organically improve cash flow and reduce leverage on our balance sheet. I want to thank our team for their hard work in helping us reach this agreement. Upon completion of this transaction, we will have divested the substantial majority of our European operations," Scott Wells, Clear Channel Outdoor CEO.