Clear Channel Outdoor Holdings, Inc. said on Oct. 14, 2026 that it has completed its previously announced acquisition by Mubadala Capital in a transaction valued at approximately $6.2 billion, according to PR Newswire. The company said the transaction closed after receiving all applicable regulatory approvals and approval by Clear Channel stockholders, according to PR Newswire.
Closing conditions and public market status
Clear Channel said the transaction closed following receipt of all applicable regulatory approvals and approval by Clear Channel stockholders, according to PR Newswire. With the completion of the acquisition, Clear Channel said its common stock will cease trading and will be delisted from the New York Stock Exchange, according to PR Newswire.
Clear Channel described itself as “a leader in U.S. out-of-home advertising,” and announced the completion of the acquisition in a release dated Oct. 14, 2026 from San Antonio, according to PR Newswire.
Leadership changes at Clear Channel
Concurrent with completion of the transaction, Wade Davis became Chief Executive Officer of Clear Channel, succeeding Scott Wells, according to PR Newswire. Clear Channel said Wells has stepped down from his role as CEO and from the Board of Directors, and that he will serve as an advisor to the company to support a smooth transition, according to PR Newswire.
Clear Channel also said that, as previously announced, Davis has joined the Board as Executive Chairman, according to PR Newswire. In addition, the company said John Halley will join Clear Channel as Chief Commercial Officer, working across all commercial activities, according to PR Newswire.
Background on Wade Davis
Clear Channel said Davis is the founder and Chief Executive Officer of ForgeLight LLC, an operating and investment company focused on the media and consumer technology sectors that he established in 2019, according to PR Newswire. Through ForgeLight, Clear Channel said Davis partnered with Searchlight Capital Partners and Liberty Global to acquire a controlling stake in Univision Communications in December 2020 and assumed the role of Chief Executive Officer upon closing, according to PR Newswire.
Clear Channel said Davis subsequently led the merger of Univision with the entertainment assets of Mexico’s Grupo Televisa to create TelevisaUnivision and served as its Chief Executive Officer from January 2021 through September 2024, according to PR Newswire. Clear Channel said Davis currently serves as Vice Chairman of the TelevisaUnivision Board of Directors, according to PR Newswire.
Clear Channel said Davis recently served as Executive Chairman of Lambda Technologies and is a member of TWG Global’s Merchant Banking business, according to PR Newswire. Prior to founding ForgeLight, Clear Channel said Davis served as Executive Vice President and Chief Financial Officer of Viacom Inc. from November 2012 through December 2019 and joined Viacom in 2006, holding senior roles in mergers and acquisitions, strategic planning, and corporate development before assuming the CFO position, according to PR Newswire. Before Viacom, Clear Channel said Davis spent more than a decade as an investment banker focused on the technology and media sectors, according to PR Newswire.
Background on John Halley and company positioning
Clear Channel said Halley most recently served as President of Advertising at Paramount Global across a portfolio that includes CBS, Paramount+, Pluto TV, Nickelodeon, MTV, and Comedy Central, according to PR Newswire. Clear Channel said Halley led initiatives focused on innovative products backed by data and measurement, and that these efforts helped grow Paramount Global’s digital advertising business into a multibillion-dollar platform, according to PR Newswire.
Clear Channel said it is “at the forefront of driving innovation in the out-of-home advertising industry,” and described its advertising platform as expanding digital billboards and displays and integrating data analytics and programmatic capabilities intended to deliver measurable campaigns that are simpler to buy, according to PR Newswire. Out-of-home advertising is widely known to encompass ad placements such as billboards and other public displays.
