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Jessica Hall
Private equity firms complete Clear Channel buyout
Submitted by Benton Foundation on July 30, 2008 - 6:50pmLast updated: July 30, 2008 - 6:50pm
Private equity firms Thomas H. Lee Partners and Bain Capital Partners said on Wednesday they completed the $17.9 billion purchase of radio-station and billboard company Clear Channel Communications. The deal, which had been slowed by legal battles in two states and negotiations to lower the purchase price, closed almost two years after Clear Channel began exploring strategic options in October 2006.
