After long drawn out negotiations, US radio firm Clear Channel has been bought by a consortium of equity types, including Warner Music co-owners Thomas H Lee Partners. The original offer was made last November, but some key Clear Channel shareholders had been resisting the sales offer. The company has also announced it will sell off its TV business and smaller radio stations.
Sep 26, 2007
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1 min read
Clear Channel sold to consortium including Thomas H Lee Partners
US radio firm Clear Channel has been bought by a consortium of investors including Warner Music co-owner Thomas H Lee Partners, and will sell its TV business and smaller radio stations.