San Antonio,
Texas - Radio giant Clear Channel (NYSE: CCU)
announced on Friday that its shareholders have approved its $17.9 billion sale
to private equity firms Bain Capital Partners and Thomas H. Lee Partners, with
approximately 97% of shares voted cast in favor of the deal. The private equity
firms initially offered $37.60 per share back in November 2006, but with the credit
market downturn the deal was finalized at $36 per share.
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