Out of home company Clear Channel Ireland (CCI) has been acquired by Bauer Media following a deal agreed with its parent company, Clear Channel Europe (CCE), to sell its business to the German group for $625 million. CCE has operations in the UK, Belgium, the Netherlands, Scandinavia, Finland, Estonia, Latvia, Lithuania and Poland. It is Bauer’s first investment in OOH, and marks a broadening of its current interests in radio and print media.
The deal is seen as an indication of OOH’s continued growth following the Covid-19 pandemic.
Assets
CCI has seen its business grow in recent years. Reported turnover in 2022 was up by 10.5 per cent to €8.3m, while pre-tax profits increased to €4.6m from €3.2m the previous year. The company’s assets in Ireland include Adshel bus shelter and shopping centre sites as well as roadside billboards. The company operates the contract to sell space on the Luas light rail system in Dublin, pitch-side at the Aviva Stadium on Lansdowne Road and at Shannon Airport.
CCI is run by managing director Terry Buckley.
