As a rudimentary reading of the tea leaves has shown, Clear Channel has elected to go private, accepting a buyout offer of nearly $19 billion from two private investment firms. On the same day, Clear Channel announced it would divest its holdings of radio stations outside of the top 100 markets – just under 39% of its total station inventory, minus those small cluster-sales it has already made over the last couple of months.
It’s anybody’s guess what a leaner, meaner private Clear Channel may mean; regulatory review and approval of the deal will be required. There already may be a shareholder lawsuit in the works, too. Continue reading “Clear Channel: Sold”
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