The OOH company Clear Channel Ireland is set to become part of Bauer Media following a decision by its parent company, Clear Channel Europe, to sell its business to the German privately-owned media giant in a deal worth $625m.
Apart from Ireland, the other markets included in the sale are the UK, Belgium, Denmark, Estonia, Finland, Latvia, Lithuania, the Netherlands, Norway, Poland and Sweden.
The deal marks Bauer’s first foray into the growing OOH market, having previously limited its investment strategy to audio and publishing. While Bauer has already an established presence in in seven of these markets, five of them are new.
In line with all other OOH companies post pandemic, Clear Channel Ireland has seen its business grow over the past few years. The last available accounts for the company show that turnover in 2022 rose by 10.5% to €8.3m while pre-tax profits increased to €4.6m from €3.2m a year earlier.
The company’s OOH assets in Ireland include Adshel bus shelters as well as roadside billboards, Adshel units in shopping malls. It also has the contract to sell advertising on the LUAS in Dublin as well as stadium advertising in the Aviva and Shannon Airport.
Bauer says the addition of Clear Channel Europe will widen its offering to advertisers, “with more consumer touchpoints, enabling the delivery of more impactful campaigns across the European region.”
“The acquisition of Clear Channel Europe represents a pivotal step in advancing our Group’s refocused strategy,” says Yvonne Bauer, chair of the Bauer Media board.
“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,’’ she adds.
“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.”
According to Bayer, Clear Channel Europe’s leadership team will continue to lead the OOH operations and the 1,400 staff it employs around Europe.
