Clear Channel Sale Nears, Price Falls

May 13, 2008  •  Post A Comment

Clear Channel neared an agreement to be bought out at a lower price than previously negotiated, as buyout firms such as Bain Capital and Thomas H. Lee were close to reaching financing terms, the Wall Street Journal reports. The company will be sold for about $18 billion, down from a prior price of $19.4 billion, while the buyout firms will pay higher interest rates than previously agreed upon, the Journal says.
–Danny King

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