Clear Channel Debt Holders Consent to Sale to Mubadala

Amendments to senior secured notes indentures approved ahead of planned merger

Apr. 14, 2026 at 7:03am

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A high-end, photorealistic studio still-life photograph featuring a stack of financial documents, a pen, and a calculator on a clean white background, conceptually representing the abstract corporate strategy and financial details behind the Clear Channel debt restructuring and merger.The meticulous financial arrangements behind Clear Channel's planned sale to Mubadala will enable the outdoor advertising company to pursue new growth opportunities.San Antonio Today

Clear Channel Outdoor Holdings, Inc. announced that it has obtained the required consent from holders of its senior secured notes to amend the indentures governing those notes, in connection with the previously announced agreement to be acquired by Madison Parent Inc. The amendments will become effective immediately prior to the closing of the merger transaction.

Why it matters

The successful consent solicitation clears a key hurdle for Clear Channel's planned sale to Mubadala, a major investment firm based in the United Arab Emirates. The amendments to the debt agreements will facilitate the merger and provide more flexibility for the new ownership.

The details

Clear Channel said that as of April 9, 2026, the requisite consent had been provided by holders of each series of its senior secured notes to amend the indentures governing those notes. The amendments became effective on that date through supplemental indentures executed by the company, the guarantors, and the trustee. The consent solicitation was conducted in accordance with the previously announced merger agreement between Clear Channel, Madison Parent Inc., and Madison Merger Sub Inc.

  • The consent solicitation was announced on February 9, 2026.
  • The requisite consent was obtained by April 9, 2026.
  • The amendments to the indentures became effective on April 9, 2026.

The players

Clear Channel Outdoor Holdings, Inc.

A leading outdoor advertising company that owns and operates advertising display faces in various markets across the United States.

Madison Parent Inc.

The acquiring company that has agreed to merge with Clear Channel Outdoor Holdings, Inc.

U.S. Bank Trust Company, National Association

The trustee for the senior secured notes indentures.

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What’s next

The merger between Clear Channel and Madison Parent Inc. is expected to close in the coming months, subject to regulatory approvals and other customary closing conditions.

The takeaway

This transaction highlights the ongoing consolidation in the outdoor advertising industry as companies seek greater scale and financial flexibility to navigate a rapidly evolving media landscape.