Clear Channel Sold to Mubadala Capital and TWG Global

Acquisition marks new chapter for outdoor advertising company

Published on Feb. 13, 2026

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Clear Channel Outdoor has entered into an agreement to be acquired by Mubadala Capital, a global alternative asset management platform, in partnership with TWG Global. The transaction is expected to close by the end of the third quarter of 2026, subject to shareholder and regulatory approvals. Until then, Clear Channel will continue to operate independently as a publicly traded company.

Why it matters

The acquisition by Mubadala Capital and TWG Global is seen as a recognition of Clear Channel's transformation and a way to enhance its financial flexibility and support ongoing growth efforts. The new ownership structure is expected to provide Clear Channel with greater strategic and financial flexibility to execute its vision.

The details

Under the terms of the agreement, Clear Channel's stock will no longer be listed on the NYSE once the transaction is complete. As a privately held company, Clear Channel will no longer report quarterly or annual earnings in the same way and will not disclose the same level of financial information to the public. Wade Davis, an accomplished media and technology executive, is expected to join as Executive Chairman following the close of the transaction.

  • The transaction is expected to close by the end of the third quarter of 2026.
  • Until the closing, Clear Channel will continue to operate independently as a publicly traded company.

The players

Mubadala Capital

A global alternative asset management platform with deep experience in media and technology.

TWG Global

A company that brings industry expertise and strong networks in the media, advertising and technology sectors.

Wade Davis

An accomplished media and technology executive who currently serves as the Vice Chairman of TelevisaUnivision and previously served as the CFO of Viacom. He is expected to join Clear Channel as Executive Chairman following the close of the transaction.

Clear Channel Outdoor

A publicly traded outdoor advertising company that has entered into an agreement to be acquired by Mubadala Capital and TWG Global.

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What they’re saying

“This moment marks the beginning of a new, exciting chapter for Clear Channel.”

— Clear Channel Manager (Internal Toolkit)

“With their support, we'll be able to better serve our customers and communities.”

— Clear Channel Manager (Internal Toolkit)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

The acquisition of Clear Channel by Mubadala Capital and TWG Global marks a significant milestone for the outdoor advertising company, providing it with the resources and industry expertise to enhance its financial flexibility and pursue new avenues of growth.