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NEW YORK The U.S. Department of Justice said Wednesday that Clear Channel must divest radio stations in four markets in order to close its $19.5 billion buyout by private equity firms Bain Capital and Thomas H. Lee Partners.
Because Bain and THL own interest in Cumulus Media Partners and Univision Communications, Clear Channel is required to sell six stations in markets where it goes head to head with those radio groups, in Cincinnati, Houston, Las Vegas and San Francisco.
“Without
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