Investor Relations
News Detail
17th Jan 2008
INM CCI Announcement
INM acquires Clear Channel's African Outdoor Interests for €86.6 million (Based on INM's closing share price of €2.22 on 17th January 2008)
Independent News & Media ['INM'] today announced that it has agreed with Clear Channel Outdoor ['CCO'] to acquire CCO's 50% interest in Clear Channel Independent ['CCI'] . Africa's largest outdoor advertising company, 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%.
