Clear Channel, the radio and advertising giant, will go private. After a 386-day waiting period, the FCC yielded its stamp of approval for Thomas H. Lee Partners, L.P. and Bain Capital Partner, LLC to lead a buyout of the company’s stock at reportedly $39.20 per share. The $19.5 billion deal was approved by unanimous vote in a private agency meeting.
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Clear Channel, the radio and advertising giant, will go private. After a 386-day waiting period, the FCC yielded its stamp of approval for Thomas H. Lee Partners, L.P. and Bain Capital Partner, LLC to lead a buyout of the company’s stock at reportedly $39.20 per share. The $19.5 billion deal was approved by unanimous vote in a private agency meeting.
The final hurdle will be an “OK” from the Justice Department, which is expected in the coming weeks, along with a formal announcement.
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