Clear Channel sells & spins.
October 20, 2006
According to Inside Radio, the bidding began with identical $36 bids by two groups (Thomas H. Lee/Bain Capital and KKR/Providence Equity Partners/Blackstone). They each raised their offers – but only Lee/Bain was willing to go to $37.60. That’s the number the board finally took after a lengthy meeting. So CC is going private and separately spinning 448 radio stations plus its 42 TV stations.
To view stations up for grabs CLICK below:http://www.sec.gov/Archives/edgar/data/739708/000095013406021773/d41428d2defa14a.htm
