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November 13, 2006
Deadline For Clear Channel Bids is Today
The Associated Press is reporting that Clear Channel expected 2 bids today from private equity firms interested in purchasing the company.
"One bid was likely to come from the group of Providence Equity Partners, the Blackstone Group and Kohlberg Kravis Roberts & Co., said a person familiar with the bidding process, speaking on condition of anonymity because Clear Channel had not yet decided when it would make a public announcement.Another consortium reportedly interested in Clear Channel is comprised of Bain Capital, Thomas H. Lee Partners and the Texas Pacific Group, according to news reports. Another source familiar with the process, also speaking anonymously because there was no formal announcement, said at least one of those three planned to be involved in a bid submission."
Suddenly the radio industry is as exciting as the Wild West. Stay tuned!
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