06:31 AM EST, 01/09/2025 (MT Newswires) -- Clear Channel Outdoor Holdings Inc ( CCO ) said Thursday that it has entered into a definitive agreement to sell the businesses consisting of its Europe-North segment to Bauer Media Group subsidiary Bauer Radio for $625 million in cash.

The company said it will use the net proceeds to fully prepay the outstanding CCIBV term loans of $375 million plus accrued interest, while the remainder will be subject to asset sale provisions for the company's remaining debt.

The transaction is expected to close in 2025.