Funds affiliated with Ares Management LLC, a major shareholder in Clear Channel Outdoor, are being advised by Paul, Weiss in the proposed sale of Clear Channel to Mubadala Capital and TWG Global. The deal values Clear Channel at $6.2 billion and will be an all-cash transaction.
Clear Channel Outdoor is recognized as a leader in out-of-home advertising across the United States. The transaction was announced on February 9 and is anticipated to close by the end of the third quarter of 2026, pending customary closing conditions.
The legal team from Paul, Weiss working on this transaction is led by corporate partners Michael Vogel, Lara Solomons, and Kenneth Schneider. Other team members include partner Thomas de la Bastide and tax partner Scott Sontag.