Clear Channel Completes Sale to Providence Equity Partners

Courtesy Broadcasting & Cable - Business and Deals News  Fri, 03/14/2008 - 21:10

Clear Channel Communications said it completed the sale of its television group to Newport Television, a holding company for Providence Equity Partners for $1.1 billion.

The agreement for 56 TV stations is about $200 million less than the terms of the original agreement reached last April.

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