The largest radio group in the country has agreed to be acquired by private equity firms Thomas H. Lee Partners and Bain Capital. In a separate announcement, Clear Channel said it would put its 42 television stations and smaller-market radio stations up for sale. CEO Mark Mays says the management team “looks forward to working with Thomas H. Lee Partners and Bain Capital Partners to continue our business plan.” Clear Channel had announced back in October that it was evaluating strategic options.
Advertisement