Clear Channel: JCDecaux Unit Terminates Agreement To Acquire Business In Spain

(RTTNews) - Clear Channel Outdoor Holdings (CCO) said a subsidiary of JCDecaux SE has terminated the agreement to acquire the company's business in Spain after deciding to withdraw its regulatory filing with the Spanish National Markets and Competition Commission in light of the commitments required by the CNMC. Clear Channel will continue operating its business in Spain and remains focused on executing its strategic priorities in its America and Airports segments.

Scott Wells, CEO of Clear Channel, said:. "Over the course of the seventeen-month period since the agreement was announced, our business in Spain has performed well despite the distractions inherent in a sales process. With this development, we will continue to operate our assets in Spain and serve our customers."