Clear Channel board approves amendment to merger deal

The Clear Channel Communications board of directors May 18 unanimously approved an amendment to its merger deal with a private equity firm led by Thomas H. Lee Partners and Bain Capital Partners.

The media company owns or operates 40 TV stations nationwide. Clear Channel TV stations in 24 markets operate full-service news departments.

The amendment to the merger agreement raises the price per share the equity firm would pay to complete the transaction.

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