Clear Channel says completes TV sale for $1.1 bln

CLEAR CHANNEL SAYS COMPLETES TV SALE FOR $1.1 BLN
[SOURCE: Reuters, AUTHOR: Megan Davies]
Clear Channel said on Friday it completed the sale of its television assets to Newport Television LLC, a company set up by Providence Equity Partners to make the acquisition, for $1.1 billion. The deal brings to a close months of twists and turns about the deal, which looked at times as if it would falter. The TV deal is not related to the $20 billion leveraged buyout of Clear Channel, agreed last year but which is yet to close. Clear Channel, being bought by private equity firms Thomas H. Lee Partners and Bain Capital Partners LLC.
http://www.reuters.com/article/industryNews/idUSN1444375720080315

* Clear Channel Completes Sale to Providence Equity Partners
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