Clear Channel accepts $19.5 billion buyout offer
Steve Safran May 19th, 2007
Clear Channel Communications has accepted an offer to be purchased for $19.5 billion. The board approved the joint bid made from private equity firms Thomas H. Lee Partners and Bain Capital. The Mays family - founders of Clear Channel - and the comapny’s top shareholders had been feuding over the future of the company since last year.
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1. Anonymous | May 20th, 2007 at 9:16 pm
The Mays family was solidly Republican in their giving, and it looks like Thomas H. Lee will represent a sea change there. (Look him up on Open Secrets, it won’t let me comment if I put the link in the URL field for some reason.) I wonder what that might mean for the company that syndicates Rush, Drudge, Dr. Laura, Fox News Radio, et al.?
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