Clear Channel Outdoor to Pay $26 Million to Settle China Bribery Charges

The advertising company was accused of violating the U.S. Foreign Corrupt Practices Act through the actions of its agency, which was operating in China.

The Securities and Exchange Commission in Washington on Sept. 18, 2008. Chip Somodevilla/Getty Images

Clear Channel Outdoor Holdings has agreed to pay more than $26 million to settle charges that it bribed Chinese officials in order to get advertising contracts, the U.S. Securities and Exchange Commission (SEC) announced on Sept. 28.

The U.S.-based company was accused of violating the U.S. Foreign Corrupt Practices Act (FCPA) through the actions of its agency, Clear Media Limited, which at the time was a majority-owned subsidiary in China.