Bauer Media has announced that it has signed an agreement to acquire Clear Channel Europe -North, a significant player in the Out of Home media sector with a strong portfolio of digital assets.

The acquisition extends Bauer Media’s European coverage, including seven markets where they already have an established presence, and five new markets for the company (United Kingdom, Belgium, Denmark, Estonia, Finland, Ireland, Latvia, Lithuania, the Netherlands, Norway, Poland, and Sweden).

The acquisition enhances Bauer Media’s growing digital market offering and expertise. The addition of Clear Channel Europe will widen Bauer’s offer to advertisers, with more consumer touchpoints, enabling the delivery of more impactful campaigns across the European region.

Yvonne Bauer, Chair, Bauer Media Board said: “The acquisition of Clear Channel Europe represents a pivotal step in advancing our Group’s refocused strategy. By enhancing our core media and related businesses while investing in our digital transformation, this move broadens our capabilities and strengthens our position as a major player in the highly competitive media industry.

Bringing together our two companies’ offerings will enable us to reach 350 million consumers through 200 magazine brands, 150 Audio brands, and 110,000 Out of Home sites across Europe. This expands the scope of what we can offer advertisers, in turn giving them the opportunity to amplify the impact and relevance of their campaigns in an increasingly connected and digital world.

“We look forward to welcoming the Clear Channel team to Bauer Media. Together, we will create a comprehensive and innovative media offering that meets the evolving needs of our advertisers and audiences across the region,”

Justin Cochrane, CEO, Clear Channel Outdoor UK & Europe added: “We look forward to joining Bauer Media to build upon the strong foundation that we have established in these European markets as a part of Clear Channel Outdoor. The consistent top-line performance of our Europe-North assets year-to-date underscores the growing demand in these markets and the dedication of our teams to executing for our clients and partners.”

Clear Channel Europe’s leadership team will continue to lead the Out of Home operations and the 1,400 staff.

Bauer Media’s lead M&A adviser was LionTree Advisers. Reed Smith served as legal adviser. The company was also advised by OOH Capital, Deloitte, and Herbert Smith Freehills.