Clear Channel's ten-year quest to take over the world -- at least the world of radio -- has ended with shareholder approval to take the firm private at the end of the year.
It's a $19.5 billion buyout and the preliminary vote approved the merger with T.H. Lee Partners and Bain Capital Partners.
The timing was critical because investment money is hard to find these days -- a far cry from 1996 when consolidation was enabled by law. Now the shareholders are in a far more agreeable mood because it's as good a deal as they're going to get.
Back when Clear Channel stock was selling in the $90 range, executives predicted it&hellip
Recent Posts
- AI Insights from My NYU Music Business Class
- Cumulus Just Blinked
- Urban One’s Nuclear Option
- Inside iHeart’s “Guaranteed Human”
- iHeart Mismanagement Exposed
- The Trojan Horse Deal to Rope in Station Buyers
- iHeart Cooked the Essential AM/FM Car Study
- How iHeart Blew the TuneIn Deal
- The Perfect Buyer Waits for Cumulus
- Beasley Asset Sales Plausible