Clear Channel Taps Wade Davis as CEO Following Mubadala Buyout
Clear Channel Outdoor has named Wade Davis chief executive and executive chair as Mubadala Capital completes its $6.2 billion take-private of the company.
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what happened
According to Newsmetry API, Clear Channel Outdoor has appointed Wade Davis as its top executive, while Scott Wells, whom Davis succeeds, is also leaving the board. Davis will sit on the board as executive chair. The billboard operator additionally brought in John Halley as chief commercial officer.
The leadership reshuffle coincides with the company moving into private ownership. Abu Dhabi's state-owned wealth fund Mubadala Capital finalized its acquisition on Wednesday, a transaction valued at $6.2 billion.
Davis founded and runs ForgeLight, an investment and operating firm focused on media. In 2020, ForgeLight and two partners took a controlling interest in Univision Communications, and Davis became Univision's CEO. He then combined Univision with the entertainment arm of Mexico's Grupo Televisa to create TelevisaUnivision, the largest Spanish-language media group globally. He left the CEO role there in 2024 and remains vice chair. Halley previously led advertising at Paramount Global.
why it matters
Taking the company private removes its shares from public trading, so public-market investors lose direct access to Clear Channel stock. Davis's background in media, including his Univision work, signals that the new leadership is betting on sector expertise.
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- Clear Channel Names Wade Davis as CEO After Go-Private Deal Closes — Newsmetry API, 14 October 2026 at 19:36 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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