Clear Channel Sells Television Group

[zbdent]

Source: Associated Press

Clear Channel Sells Television Group

The sale of the television group Friday, to Providence Equity Partners, includes 56 television stations in 24 markets and the associated Web sites. Clear Channel, which also owns a large outdoor advertising unit, expects the sale to generate proceeds of $1.1 billion and to close in the fourth quarter, pending regulatory approval.

Read more: http://channels.netscape.com/pf/story.jsp?idq=/ff/story/0001/20070420/0843389050.htm&sc=1333

---

And ... on an unrelated note ... Former FCC Chairman Michael K. Powell joins Providence Equity Partners ...

Unrelated note link: http://www.nytimes.com/2005/08/11/business/media/11deal.html?ex=1281412800&en=34f3518e2548f94f&ei=5090&partner=rssuserland&emc=rss

[Cirque du So-What]

1. Even though I applaud public airwaves escaping the clutches of CC

I can't help but wonder what nefarious plans CC has in mind once they generate all this free cash from selling their TV & radio stations. Will they become another Carlyle Group - a front operation for conservative activities?

[lapfog_1]

2. There have been rumors that Google is buying CC

this move may be one that "clears the deck" of unwanted TV stations (Google apparently wants the radio stations).

I tried to follow the logic of Google buying radio stations, but I have to admit I couldn't quite grasp the logic.

[anitar1]

9. Well if the former head of the FCC, Michael Powell. another

member of the BFEE is now a member of the buying group, you know we have trouble.

[saigon68]

3. COLON BOWEL'S son mikey is involved

Gee What a surprise???

</sarcasm>

[Lee_n_Tenn]

4. This is VERY important. This group is dangerous...

Just a little research on these guys and you will see they are very close with the bushco evil empire. They are buying up media left and right.

[zbdent]

5. I did see that the Carlysle group (sp?) is in on this

bunch of new "TV station" owners ...

[monmouth]

6. I'm pretty sure Rush Limbaugh is with CC..n/t

[Ian David]

7. But so is Stephanie Miller. n/t

[aaronbees]

8. They're also in the process of selling a whole bunch of radio stations

They're selling a handful in my town - I believe they're selling off smaller market locations.