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.

Hollywood, Calif. - Buzznet, a music-focused social media community, on Tuesday announced that it has acquired yet another music site, this time purchasing alternative music Web zine Absolute Punk for an undisclosed sum. The deal follows Hollywood-based Buzznet's recent acquisitions of music blogs Stereogum and Idolator, and a $25 million round of financing earlier this year from investors that included Universal Music Group.

West Hollywood, Calif. - IAC's (NASD: IACI) Ticketmaster announced on Thursday that it has acquired the assets of SLO Limited, a provider of VIP ticketing services to major touring artists and special events.

Washington - Still awaiting approval from the Federal Communications Commission (FCC), XM Satellite Radio (NASD: XMSR) and Sirius Satellite Radio (NASD: SIRI) have agreed to extend their merger deadline, which otherwise would have expired on May 15.

Washington - With their merger possibly on the brink of completion, XM Satellite Radio (NASD: XMSR) and Sirius Satellite Radio (NASD: SIRI) both announced on Tuesday that they would both postpone their annual meetings. The two companies continue to await a decision on the deal by the Federal Communications Commission (FCC).

New York - Sony Corporation of America (NYSE: SNE) announced on Tuesday that it will acquire Gracenote, a provider of digital media identification and recommendation services, for $260 million plus other contingent consideration. Founded in 1998, Emeryville, Calif.-based Gracenote developed the CD identification technology that has become the standard used by software like Apple's iTunes, Yahoo's Music Jukebox and Winamp, and on portable music players from Sony, Samsung and others.

Washington - Sen. Byron Dorgan (D-N.D.), a high-ranking member of the Senate Commerce Committee, on Friday wrote to the Federal Communications Commission (FCC) asking the agency to block the $5 billion merger of satellite radio firms XM (NASD: XMSR) and Sirius (NASD: SIRI), Reuters reported.

Lanham, Md. - Looking to further broaden its focus outside of radio, Radio One, a radio broadcasting company that primarily targets African-American and urban listeners, said that it has paid $38 million to acquire New York-based Community Connect Inc. (CCI), an operator of several niche social networking websites.

Fort Mill, S.C. - Muzak and DMX, two providers of business music and media services, announced on Tuesday that they have received word that Justice Department's antitrust division has approved their proposal to merge and sell the combined company to a third party.

San Francisco - Imeem, a music-focused social network that claims 24 million unique monthly visitors, announced on Monday that it has acquired Snocap, the digital music registry and rights clearinghouse service co-founded by Napster creator Shawn Fanning, for an undisclosed sum. San Francisco-based Snocap's digital registry currently counts over 7 million songs, and over 110,000 unsigned and label-based artists are using Snocap MyStores to sell their music on MySpace and other sites.

Los Angeles - Buzznet, a music-focused social media site, has raised as much as $25 million in its third round of financing, from investors including Universal's Interscope Records, PaidContent reports.

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.

Billerica, Mass. - Digimarc (NASD: DMRC), an Oregon-based provider of digital watermarking and other technologies, announced on Monday that it will sell its ID Systems business to L-1 Identity Solutions, for about $250 million.

Framingham, Mass. - LiveWire Mobile, a unit of NMS Communications (NASD: NMSS) that provides managed personalization services for mobile operators, announced on Tuesday that it has acquired Groove Mobile, a provider of mobile music delivery services, for $14.5 million.

Los Angeles - Major record label Universal Music Group, a unit of Vivendi, announced that it will acquired the Latin music recording and publishing division of Spanish-language media firm Univision Communications, effectively making it the largest player in the U.S. Latin music market.

Pittsfield, Mass. - Missing Beat Music, a provider of online promotional services for independent musicians, has acquired MyBandsMusic.com, an online music distribution and social networking site for independent musicians and their fans. MyBandsMusic is an online store and meeting place, where artists can create profiles and sell downloads and CDs. Terms of the acquisition deal between the two privately held firms were not disclosed.

London - Live Nation (NYSE: LYV), a concert promoter and owner of live event venues worldwide, announced on Friday that it will acquire a 65% controlling stake in Mirage Promotions, a Dubai-based concert promoter.

San Francisco - Music-focused social network Imeem has acquired Snocap, the digital music licensing company founded by Napster creator Shawn Fanning, according to TechCrunch, which added that the purchase price will likely not be disclosed.

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.

Palo Alto, Calif. - Mozes, the provider of an on-demand mobile marketing platform, announced on Tuesday that it has acquired Hurricane Interactive Promotions, a provider of live concert mobile phone promotions.