Eletromidia buys Clear Channel’s Brazilian operations for R$80m – Valor International

Por Valor — São Paulo
08/05/2025 12h33 Atualizado há 7 meses
Eletromidia, a leading Brazilian out-of-home advertising company, announced on Wednesday (7) the acquisition of Clear Channel’s operations in Brazil for R$80 million. The deal, conducted through subsidiary Publibanca— which specializes in street-level advertising— does not require shareholder approval.
According to Eletromidia, the acquisition strengthens its position in the urban furniture and street advertising segments, areas where both companies had competed for public concessions in major Brazilian cities.
One such example is Rio de Janeiro. Clear Channel had managed part of the city’s street furniture in partnership with JCDecaux, but lost the concession in 2023 when Eletromidia won the public tender. The new contract was slated to start in 2027, but with the acquisition, Eletromidia will now enter the Rio market earlier by taking over Clear Channel’s operations ahead of schedule.
The transaction is subject to approval by Brazil’s antitrust regulator (CADE) and other standard closing conditions, and is expected to be finalized in 2025. Until then, the companies will continue to operate independently and maintain their current business activities.
“We see this acquisition as a strategic move that strengthens our national presence. Clear Channel’s operations fit naturally into our ecosystem and align with our mission to transform cities with solutions that create real impact in people’s lives,” said Eletromidia CEO Alexandre Guerrero in a press release.
In December 2024, Grupo Globo increased its stake in Eletromidia to 75% from 27%, becoming its controlling shareholder. Globo also owns Editora Globo, which publishes Valor.
The sale of its Brazilian business is part of Clear Channel’s broader strategy to focus on the U.S. market and improve liquidity. In 2022, the company announced its plan to exit non-U.S. markets. In February this year, it sold its operations in Mexico, Peru, and Chile to Global Media US LLC for $34 million.
In March, Clear Channel completed the sale of its Northern European operations—including the UK, Nordic countries, and parts of Central Europe—to Bauer Media Group for $625 million. It also sold operations in Switzerland ($92.7 million, to Goldbach Group), Italy ($16.2 million, to Digital Outdoor Group), and France ($44.52 million, to Equinox Industries), and is currently in talks to divest its business in Spain.
“This agreement to sell our Brazilian operations is another milestone in our goal to streamline our portfolio and focus on growth in our Americas and Airports segments,” said Clear Channel CEO Scott Wells. “I want to thank our team for their hard work in helping reach this agreement. With this transaction, we will have exited all Latin American markets.”
In its most recent earnings release on May 1, Clear Channel posted gross revenue of $334.2 million for the first quarter of 2025, a 2.2% increase year over year. Despite the revenue growth, the company reported a net loss of $55.3 million from continuing operations, an improvement from the $69.2 million loss reported a year earlier.
Eletromidia, meanwhile, reported net revenue of R$1.19 billion in 2024, up 26.5%. Adjusted net income rose 24.7% to R$198.3 million.
This article was translated from Valor Econômico using an artificial intelligence tool under the supervision of the Valor International editorial team to ensure accuracy, clarity, and adherence to our editorial standards. Read our Editorial Principles.
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