Clear Channel set a new “record date” for the meeting of shareholders regarding its proposed merger.
This means only shareholders as of 5 p.m. Eastern on July 27 will be able to vote on the merger with the group led by Bain Capital Partners and Thomas H. Lee Partners.
The satellite merger is not the only deal in front of regulators; the DOJ and FCC also are reviewing Clear Channel’s deal to go private.
Clear Channel got the green light from shareholders to accept a buyout offer that’s been on the table in various forms since late last year.
Company completes its going-private merger with private equity.
April 19 is the date now for a shareholder meeting to vote on the Clear Channel buyout offer.
Clear Channel postponed the vote on its buyout by a private equity group to May 22, Bizjournals.com reported.
Clear Channel said it increased its average unit rates over a year ago but total minutes sold declined.
The FCC has given its blessing to the Clear Channel acquisition.
Clear Channel Communications said it was ranked the most shareholder-friendly company in the radio and TV broadcasting sector for the second year.