Clear Channel board approves amendment to merger deal

If shareholders approve the agreement, ownership of 40 TV stations with news departments in 24 markets will change hands.
Author:
Updated:
Original:

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.

For more information, visit www.clearchannel.com.