Clear Channel Outdoor Announces Sale of Brazilian Operations to Publibanca Brasil
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) has announced that its subsidiaries have reached a definitive agreement to sell its business in Brazil to Publibanca Brasil S.A., an affiliate of Eletromidia S.A. The sale, valued at approximately R$80 million (US$14 million), is a strategic move to optimize Clear Channel Outdoor’s portfolio and focus on its growth in the America and Airports segments.