Fergie's Tech Blog

Clear Channel Agrees to $27B Buyout

Frank Ahrens writes in The Washington Post:

Clear Channel Communications Inc., the nation's largest radio chain with more than 1,200 stations, said today it has agreed to sell the company to a consortium of private-equity firms for nearly $27 billion.

The buyers, led by Bain Capital Partners and Thomas H. Lee Partners, also are bidding for Tribune Co., which owns several newspapers and television stations. That process is ongoing.

posted by Fergie @ 11/16/2006 11:06:00 AM