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.
equity partnersClear Channel Completes Sale to Providence Equity PartnersBroadcasting & Cable - Business and Deals News Fri, 03/14/2008 - 21:10
Providence Miffed by Clear Channel SuitNewsvine - business Sun, 02/17/2008 - 14:22
Providence Equity Partners said Sunday it was "surprised and disappointed" by a lawsuit filed Friday by Clear Channel Communications Inc. to force the private-equity firm to close a purchase of Clear Channel's television stations. Tags:
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