Clear channel outdoor holdings, inc. to sell its switzerland business to goldbach group, an affiliate of tx group, for chf 86 million

Company continues review of strategic alternatives for its european businesses san antonio , dec. 22, 2022 /prnewswire/ -- clear channel outdoor holdings, inc. (nyse: cco) (the "company") today announced it has entered into a definitive agreement to sell its business in switzerland to goldbach group ag, an affiliate of tx group ag, for chf 86.0 million, or us$ 92.7 million 1. the company's swiss business is expected to contribute approximately us$ 9.7 million, which excludes us$ 1.4 million in one-time items including rent abatements, to europe segment adjusted ebitda2 for the full year ended december 31, 2022.
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