Clear Channel Outdoor Holdings (CCO) has announced that a subsidiary of JCDecaux SE has terminated its agreement to acquire CCO's operations in Spain. This decision follows the withdrawal of the regulatory filing with the Spanish National Markets and Competition Commission (CNMC) due to the commitments stipulated by the CNMC. Consequently, Clear Channel will persist in managing its Spanish business while concentrating on advancing its strategic objectives within the America and Airports segments.
Scott Wells, the CEO of Clear Channel, remarked, "Throughout the seventeen-month duration since this agreement was initially disclosed, our Spanish operations have demonstrated strong performance, even amidst the inherent challenges of a sales process. With this recent development, we will continue to manage our assets in Spain and remain dedicated to serving our clients."
