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February 23, 2026
Ares Supports Sale of Clear Channel Outdoor to Mubadala and TWG Global
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AI-made summary
- • Paul, Weiss is advising Ares Management LLC funds, a major Clear Channel Outdoor shareholder, on Clear Channel’s sale to Mubadala Capital and TWG Global. • The transaction values Clear Channel at $6.2 billion and is structured as an all-cash deal. • The sale was announced on February 9 and is expected to close by the end of the third quarter of 2026, pending customary conditions. • The Paul, Weiss team includes corporate partners Michael Vogel, Lara Solomons, Kenneth Schneider, Thomas de la Bastide, and tax partner Scott Sontag.
Paul, Weiss is advising funds affiliated with Ares Management LLC, a major shareholder in Clear Channel Outdoor, in connection with Clear Channel’s sale to Mubadala Capital, in partnership with TWG Global, for an enterprise value of $6.2 billion. Clear Channel is a leader in U.S. out-of-home advertising. The all-cash transaction, announced on February 9, is expected to close by the end of the third quarter of 2026, subject to customary closing conditions.
The Paul, Weiss team is led by corporate partners Michael Vogel, Lara Solomons and Kenneth Schneider, and includes partner Thomas de la Bastide; and tax partner Scott Sontag.
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