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The owner of Clear Channel Radio, the nation’s largest radio group, and 90 percent owner of Clear Channel Outdoor Holdings, reported that their revenue was down 21 percent to $1.4 billion in second quarter. Excluding foreign exchange, revenue would have declined 18 percent.
Clear Channel Media Holdings, which purchased the company a year ago backed by private equity firms Bain Capital Partners and Thomas H. Lee Partners, lost $3.7 billion in the quarter, attributable to the decrease in revenue and an impairment of charge of $4 billion and an increase of $302.5
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