INM acquires advertising company in €86.6m deal

Independent News & Media (INM) today announced that it has agreed with Clear Channel Outdoor (CCO) to acquire the company's 50% interest in Africa’s largest outdoor advertising company, Clear Channel Independent, based in Johannesburg, South Africa.

INM has owned CCI as a joint venture with CCO since 2001, and this transaction simplifies and takes INM’s ownership interest to 100%.