Clear Channel Finds Buyer for TV - Radio World

Clear Channel Finds Buyer for TV

Clear Channel will sell its Television Group to a private equity firm, Providence Equity Partners, for $1.2 billion.
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Clear Channel will sell its Television Group to a private equity firm, Providence Equity Partners, for $1.2 billion.

The sale includes 56 television stations in 24 markets, their Web sites, the Clear Channel Television Operations Center and other assets; it should close in the fall or early winter.

The Television Group consists of 10 CW, eight Fox, seven NBC, six ABC, six CBS, four My Network TV, two NBC Weather Plus, two Telemundo and five independent stations, and six affiliated with Clear Channel's Variety Television Network.

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