Clear Channel Media Holdings, the new parent company formed by private equity to manage Clear Channel Communications, reported Monday (Aug. 11) its second-quarter revenue increased 2 percent to $1.83 billion. Included in that figure is a $52.2 million increase due to foreign exchange. Excluding the effects of these movements in foreign exchange, revenue declined 1 percent.
Private equity firms Bain Capital Partners and Thomas H. Lee Partners, completed the acquisition of Clear Channel, owner and operator of radio stations outdoor properties, on July 30.
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