February 18, 2008

Buyout of Clear Channel gets US antitrust approval

The Justice Department said it would not oppose the $20 billion acquisition of San Antonio, Texas-based Clear Channel by Bain Capital Partners and Thomas H. Lee Partners, as long as Clear Channel divested radio stations in four U.S. cities. Under an agreement with the department, Clear Channel will divest radio stations in Cincinnati, Houston, Las Vegas and San Francisco. (Reuters)