Mubadala Capital Closes $6.2 Billion Clear Channel Outdoor Buyout
Wade Davis takes over as chief executive and executive chairman, while Scott Wells leaves the board and stays on as an adviser.
By Tom Hadley
· 1 min read
Clear Channel Outdoor Holdings said on October 14, 2026 that Mubadala Capital had finished buying the San Antonio-based outdoor advertising company in a deal worth roughly $6.2 billion, according to a company announcement distributed by PR Newswire. The purchase closed after regulatory clearances and a shareholder vote.
Wade Davis took over as chief executive as the deal closed and also joined the board as executive chairman. He replaced Scott Wells, who left both the chief executive job and the board and will advise the company during the handover. John Halley is joining as chief commercial officer with responsibility across commercial operations.
With private ownership in place, Clear Channel shares stop trading and come off the New York Stock Exchange.
Davis founded ForgeLight in 2019, helped lead the acquisition of a controlling stake in Univision Communications in December 2020 and ran TelevisaUnivision from January 2021 to September 2024. He was chief financial officer of Viacom from November 2012 to December 2019. Halley previously was president of advertising at Paramount Global.
Mubadala Capital, a unit of Mubadala Investment Company, said it manages, advises and administers more than $755 billion in assets.
This story was first reported by PR Newswire.
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