Press Release

Kirkland Represents Clear Channel Outdoor in Proposed $497 Million Voluntary General Offer for Clear Media

Kirkland & Ellis is advising Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (“Clear Channel Outdoor”), as selling controlling shareholder, in the proposed US$497 million voluntary general offer by the consortium offeror comprising Mr. Han Zi Jing (chief executive officer and an executive director of Clear Media), Antfin (Hong Kong) Holding Limited, JCDecaux Innovate Limited and China Wealth Growth Fund III L.P. for Clear Media Limited, a company listed on the Hong Kong Stock Exchange (HKSE: 100).

Clear Media Limited is the largest operator of bus shelter advertising panels in the PRC, with the leading market share of more than 70 percent in top-tier cities.

More information about the transaction is available at the Clear Media Limited announcement here and the Clear Channel Outdoor press release here.

The Kirkland team is being led by transactional partners Nicholas Norris and Derek Poon.