Clear Channel Outdoor Holdings, Inc.

Legion Partners Asset Management, LLC (Christopher S. Kiper) and related entities hold approximately 2,295,367 shares across Legion Partners LP I (2,107,996 shares, approximately 0.4%) and Legion Partners LP II (187,371 shares, approximately 0.04%) of Clear Channel Outdoor Holdings, Inc. as of June 9, 2026. Fifth Schedule 13D amendment for Legion Partners; the sub-1% combined position suggests ongoing but diminished engagement in this out-of-home advertising company.

Clear Channel Outdoor Holdings entered the Third Amendment to its ABL Credit Agreement on May 15, 2026, modifying the definition of "Change of Control" to specifically exclude the pending acquisition of Clear Channel by the Mubadala Capital and TWG Global consortium. The amendment also modifies the facility's maturity date and other credit terms. This change ensures the pending acquisition does not constitute a default or trigger event under the ABL facility, smoothing the path to transaction close. The modification is a standard deal-facilitation step when credit agreements include change-of-control provisions that would otherwise be triggered by an acquisition.

Clear Channel Outdoor Holdings stockholders voted at a Special Meeting on May 12, 2026, to approve the company's pending acquisition by a consortium comprising Mubadala Capital and TWG Global. With 411,434,631 of 506,416,345 shares (~81.2%) represented, the affirmative vote cleared the threshold required to approve the transaction, taking Clear Channel private. The acquisition vote confirms strong stockholder support for the transformative deal. Additional transaction details, including the full deal terms and regulatory approvals required, are disclosed in the company's prior merger-related SEC filings.