Bauer Media acquires Clear Channel to strengthen its core media-related businesses

Bauer Media, one of Europe’s largest publishers, has acquired Clear Channel Group, one of the largest companies in the Out of Home (OOH) media sector. The estimated value of the transaction was USD 625 million.

This acquisition strengthens Bauer’s core focus on media and opens new pathways for digital innovation. Under the new brand “Bauer Media Outdoor”, the company now adds OOH advertising to its portfolio, creating a strong strategic complement to its existing Audio and Publishing businesses.

With the addition of Bauer Media Outdoor, advertisers will now have access to up to 350 million consumer touchpoints across 16 countries in Europe. This expanded footprint offers the potential for more innovative, high-impact campaigns across audio, publishing, and outdoor platforms.

COBALT provided Bauer Media with expert guidance on Estonian, Latvian and Lithuanian legal matters throughout the transaction, including legal due diligence, preparation of the transaction documents and corporate proceedings.

COBALT`s team was led by Partner Martin Simovart, Specialist Counsel Madis Reppo, and Junior Associate Ken Saksniit; the core team was assisted by the Latvian team consisting of Senior Associate Diāna Zepa and Associate Vadims Zvicevičs, and the Lithuanian team consisting of Specialist Counsel Deimantė Pagirienė.