December 2007
SAN ANTONIO, TX, - Clear Channel Communications, Inc., a global leader in the radio broadcasting and out-of-home advertising industries, announced that it has, in accordance with the terms of the merger agreement providing for the acquisition of Clear Channel by CC Media Holdings, Inc.
CC Media Holdings, Inc. is a corporation formed by private equity funds sponsored by Bain Capital Partners, LLC and Thomas H. Lee Partners, L.P., extended to June 12, 2008, the date on which a party may terminate the merger agreement if the merger has not occurred as of that date.
Clear Channel Communications, Inc. is a global media and entertainment company specializing in "gone from home" entertainment and information services for local communities and premiere opportunities for advertisers. Based in San Antonio, Texas, the company's businesses include radio, television and outdoor displays.
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