Clear Channel Outdoor is selling its Europe-North business segment to Bauer Media Group for $625 million in cash in order to concentrate its efforts on the U.S. market.

The deal purportedly gives Bauer 40,000 out-of-home advertising locations across the UK, Belgium, Denmark, Estonia, Finland, Ireland, Latvia, Lithuania, the Netherlands, Noway, Poland and Sweden, with experts hoping the change-of-ownership drives innovation in the OOH market at large.

CEO Scott Wells says in a company statement the goal is to "organically improve cash flow and reduce leverage on our balance sheet" as they hyper-focus on its 260+ airport media programs globally.

Europe is having a very M&A-filled week with another large OOH agency acquisition, and Nielson Germany just reported Germany's OOH advertising sector grew nearly 13% and surpassed 3 billion euros in revenue in 2024, becoming the fastest-growing media in the country (notably outpacing TV, online, and radio). DOOH is driving the growth, expanding by almost 20% YoY and accounting for over 40% of total OOH sales.