TX Group acquires Clear Channel Switzerland
The TX Group is significantly expanding its outdoor advertising business. Together with its own advertising marketing subsidiary Goldbach Group, the Zurich media company is taking over the number two in the local market, Clear Channel Switzerland. The purchase price amounts to 86 million Swiss francs.
TX Group subsidiary Goldbach is already active in the billboard and digital outdoor advertising business through its majority stake (52.3 percent) in Neo Advertising. The acquisition of Clear Channel Switzerland will now expand the business into a substantial mainstay in terms of revenue and earnings, TX Group announced on Thursday.
The combined sales of the two companies Neo Advertising and Clear Channel Switzerland amount to over CHF 100 million. By comparison, the Swiss market leader APG achieved sales of around 266 million in 2021.
"The acquisition of Clear Channel Switzerland is a good addition to the strategically important outdoor advertising business. We see further profitable growth potential in this segment," said a delighted Pietro Supino, Chairman of the Board of Directors of TX Group.
As TX Group further writes, an agreement has been reached with the minority shareholders of Neo Advertising to buy out their shares at a later date. The takeover is still subject to approval by the Competition Commission.
APG sees its own position unthreatened
For the outdoor advertising group APG, the takeover of competitor Clear Channel by the TX Group "does not fundamentally change anything". "We are and will remain the leading outdoor advertising company in Switzerland," CEO Markus Ehrle told news agency AWP.
APG has never lost sight of its focus in the past, he said, and will continue to shape the OOH market. "We have an attractive analog and digital portfolio of offerings and a highly motivated crew of employees with great professional expertise," Ehrler said. In addition, he said, APG has successfully driven digitization forward.
As far as the market situation is concerned, according to APG CEO Ehrle, it is clear that both competitors are "already potent today". And Clear Channel has long announced its intention to sell its European assets. The intended takeover by the TX Group is basically a good sign, because it shows the future potential and the fundamental attractiveness of outdoor advertising. (SDA)
