Jan 9 (Reuters) - Advertising company Clear Channel

Outdoor ( CCO ) said on Thursday it was selling the Europe-North

section of its business to a subsidiary of Bauer Media Group for

$625 million in cash as part of its strategy to focus more on

the U.S. region.

Clear Channel will use net proceeds from the sale to prepay

in full the outstanding term loans of its CCIBV subsidiary with

a principal amount of $375 million, plus any accrued interest,

it said in a statement.

"Agreement to sell our Europe-North segment is another

significant step in the execution of our strategic plan to

optimize our portfolio and focus on growing our America and

Airports segments to organically improve cash flow and reduce

leverage on our balance sheet," said Scott Wells, Chief

Executive Officer of Clear Channel Outdoor Holdings ( CCO ).

Texas-based Clear Channel provides outdoor advertising

services and operates in more than 260 airport media programs

globally.

The transaction is expected to close in 2025, upon

satisfaction of regulatory approvals.