Last updated: February 21, 2008 - 6:41am
FOUR IN RUNNING FOR CLEAR CHANNEL TV
[SOURCE: tvnewsday, AUTHOR: Harry A. Jessell]
With the bidding past the $1 billion mark, four companies are vying for Clear Channel Television, the division of Clear Channel Communications that operates 42 TV stations in 24 small- and mid-sized markets, and a winner could be named with the next two weeks. The four bidders include Nexstar Broadcasting Group, a publicly traded broadcast group headed by Perry Sook, along with three entities backed by private equity firms that have been active in the station trading marketplace over the past year -- Kelso, Oak Hill Capitol Partners and Providence Equity. The next round of bids is due next Wednesday, and parent Clear Channel Communications is expected to pick a winner within a week of those bids.
* Suitors Raise Bid for Clear Channel
The two private equity firms seeking to buy Clear Channel Communications have sweetened their offer, fearing that their initial bid may be rejected by shareholders.
- FCC OKs Troubled Clear Channel TV Deal
- New Trib TV Group: "It’s a monster."
- Affiliates Ought to be able to Repurpose, Too
- A Capitol Idea for Putting TV Stations on the Web
- Political Ad Revenue Could Hit $3B in 2008
- TVB sees Spot Spending Dip in '07, Jump in '08
- This Rembrandt Paints a Very Ugly Picture
- NTIA Coupon Program May Start Slowly
- Broadcasters Ask FCC to Table Rereg Plan
- FCC Greenlights Weigel's Milwaukee Buy
- Broadcasting and the Unabashed Regulator
- Polite Applause for NAB, Raspberry for FCC
- Barrington Forges Duop in Traverse City
- FCC OKs ABC-FOX Duopoly in Greenville, NC
- NAB Fights FCC