Clear Channel sells TV group for $1.2B

Clear Channel Communications says it has agreed to sell its television group to a private equity firm for one-point-two (b) billion dollars.

The sale, which was expected, comes two days after Clear Channel agreed to a sweetened buyout bid of more than 19 (b) billion dollars from private equity firms Bain Capital Partners and Thomas H. Lee Partners.

The sale announced today to Providence Equity Partners includes 56 television stations in 24 markets and associated Web sites.

Read Full Article from MSN Money

- Posted: 2007-04-20 10:22:40

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