FCC To Green Light $19.5 Billion Sale Of Clear Channel: Report
By Joseph Weisenthal - Fri 11 Jan 2008 07:24 AM PST
The FCC appears set to give its approval to Clear Channel’s (NYSE: CCU) $19.5 billion sale to two private equity firms. Citing an agency official, AP reports that the official announcement will likely come next week. At one point, there had been concerns over certain ownership restrictions that might have prevented approval. Buyers Thomas H. Lee Partners and Bain Capital Partners are still waiting on the DOJ to give it its blessing. The market harbors some doubt as to whether the deal will ultimately get done— Clear Channel shares are still about 10 percent below the sale price.
Tags: clear channel
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