Friday, May 25, 2007

Clear Channel accepts latest bid from Lee, Bain

Dallas Business Journal - May 18, 2007
Clear Channel Communications Inc. said Friday its board of directors has accepted a revised buyout offer from two private equity firms.

Boston-based Thomas H. Lee Partners LP and Boston-based Bain Capital LLC have been bidding for the advertising and radio company since November but have been unable to gain shareholder approval. Friday, San Antonio-based Clear Channel said directors unanimously approved the latest offer of $39.20 a share, 20 cents higher than a previously rejected bid.

Clear Channel Communications owns Dallas stations KZPS-FM (92.5), KEGL-FM (97.1), KDGE-FM (102.1), KDMX-FM (102.9) and KHKS-FM (106.1).
Read more

No comments:

Related Publications

The Arlington Texan, a portal to news and coverage of issues and events of and about Arlington, Texas. DFW Regional Concerned Citizens is a sister-site of Grassroots News You Can Use. Visitors can subscribe to issues-specific and county specific action alerts using a simple form on the site. About Air and Water focuses on DFW Regional air quality and water/gas drilling issues. We welcome your feedback.