$18.7 Billion Private Buyout Of Clear Channel Announced
It only took Clear Channel three weeks to accept the third-largest buyout offer ever in the U.S., after announcing in late October that it was considering “strategic alternatives.” The nation’s biggest radio station operator agreed to an $18.7 billion offer from Thomas H. Lee Partners LLC and Bain Capital Partners LLC. Clear Channel owns or operates 1,150 radio stations and is the largest operator of radio stations...
Google To Enter Radio Market
Google is on a radio sales hiring spree and is spending heavily in a bid to expand its position in the $20 billion radio industry by offering a new technology, Google Audio Ads. Radio stations will be able to go online and sign up for targeted radio ads using the same AdWords system they use to buy Web search ads. Google spokesman Michael Mayzel said this week that the company will begin a public test of Google Audio Ads by the end of...
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