antiMUSIC - Bids for Clear Channel

Bids for Clear Channel

11/14/06
. (FMQB) After the news broke last month that Clear Channel Communications was possibly on the sales block, new reports are saying that bids for the company were supposed to be due today. Two private equity groups were expected to make offers in the range of $17 billion, according to Reuters. One group of bidders consists of Providence Equity Partners, Blackstone and KKR, while the rival group consists of Bain Capital, Thomas H. Lee Partners and Texas Pacific Group. The Blackstone team is reportedly considered the frontrunner because it was the first to approach Clear Channel, according to a Bloomberg report. [see full story for more] - Click here for the Full Story

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