Clear Channel Outdoor Holdings Inc

Clear Channel Outdoor Holdings has received clearance from the Committee on Foreign Investment in the United States for its pending acquisition by Mubadala Capital, clearing the last regulatory hurdle for the deal. With CFIUS approval in hand, the company said all regulatory requirements to complete the merger have been obtained and it expects the transaction to close on or about October 14, 2026, subject to the satisfaction or waiver of remaining customary closing conditions. Under the terms of the previously announced definitive agreement, Clear Channel Outdoor stockholders will receive $2.43 per share in cash upon completion of the merger. Following the closing, the company's common stock will cease trading and will no longer be listed on the New York Stock Exchange. Mubadala Capital is a global alternative asset management platform that manages, advises and administers over $755 billion in assets, with its core alternatives businesses managing and investing over $60 billion.

Clear Channel Outdoor Holdings reported second-quarter revenue of $438.0 million, up 8.7%, as the billboard and airport advertising company accelerates just before its pending take-private deal. The company agreed on February 9 to be acquired by an investor consortium advised by Mubadala Capital for $2.43 per share, a deal stockholders approved on May 12 and one expected to close by the end of the third quarter of 2026. Consolidated revenue rose 10.2% to $811.9 million over the first half, with the 2026 FIFA World Cup pulling in extra advertising spend across both segments; the America division grew revenue 7% to $324.3 million, while Airports revenue jumped 14% to $113.6 million. Adjusted EBITDA rose 11.6% to $143.4 million for the quarter and 19% to $247.3 million for the first half, and Adjusted Funds From Operations climbed 61.6% to $44.9 million in the quarter. Despite the top-line gains, Clear Channel posted a loss from continuing operations of $10 million in the quarter, reversing a $6.3 million profit a year earlier, with net interest expense of $99 million and total debt of $5.1 billion as of June 30. On August 4, Clear Channel closed the sale of its Spain business for about $132.3 million, proceeds it plans to put toward paying down debt.

QuinStreet reported second-quarter revenue of $373.9 million, up 42.7% year on year and 4% above analysts' expectations, with next-quarter revenue guidance also exceeding consensus. The digital performance marketing company, which connects financial and home services clients with high-intent consumers, posted the highest guidance raise among the seven advertising and marketing services stocks tracked, and its shares are up 18.5% since reporting, trading at $18.04. Across the group, revenues beat consensus by 1.7% and next-quarter guidance came in line, with share prices up 5.8% on average since the latest results. Ibotta posted the biggest analyst estimate beat of the group, with revenue of $88.91 million, up 3.3% year on year and 4.7% above expectations, sending its stock up 62.6% to $39.97. Taboola delivered the weakest performance, with revenue of $476.8 million, up 2.4% year on year but 4.5% below expectations and guidance missing significantly, leaving its shares down 29.1% at $3.75. Clear Channel Outdoor reported revenue of $438 million, up 8.7% and 3.4% above estimates, while MediaAlpha posted revenue of $316.9 million, up 25.9% and 4.2% above expectations despite a significant EPS miss.