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.

San Antonio, Texas - Radio broadcaster Clear Channel (NYSE: CCU) has announced its sale to private equity firms Bain Capital Partners and Thomas H. Lee Partners, for $17.9 billion or $36 per share -- ending litigation between Clear Channel, the private equity firms and a consortium of banks funding the deal. The original value of the deal was $39.20 per share in October 2007, but the banks involved later got cold feet in light of the current credit climate, and the private equity firms sued to enforce the agreement.

Boston - A Texas judge has ordered several banks to follow through with funding the $19.5 billion acquisition of radio network giant Clear Channel Communications (NYSE: CCU) by Bain Capital and Thomas H. Lee Partners, the Associated Press reported. The two private equity firms filed lawsuits on Wednesday against the group of banks, claiming that they were reneging on their agreements to provide long-term financing for the deal.

DMW’s CEO & Publisher provides a wrap-up of the top stories of the week. Who’s hot, who’s not and what’s the industry buzz?

The week started with a bang on news that Yahoo Inc’s (NSDQ: YHOO) board rejected Microsoft Corp.’s (NSDQ: MSFT) unsolicited $44.6 billion offer for the company.

Washington - The U.S. Justice Dept. has approved the buyout of radio giant Clear Channel Communications (NYSE: CCU) by private equity firms Bain Capital and Thomas H. Lee Partners, provided the company divest radio stations in Cincinnati, Houston, Las Vegas and San Francisco.