FCC Schedules Comments In Clear Channel Deal
December 22, 2006 at 5:28 AM (PT)
The FCC has scheduled the comment period for the application by CLEAR CHANNEL to take the company private, which won't be completed until FEBRUARY at the earliest.
CLEAR CHANNEL teamed with investment groups THOMAS H. LEE EQUITY FUND and BAIN CAPITAL on the $26.7 billion deal. CLEAR CHANNEL is selling its TV station group and more than a third of its radio stations to reduce debt.
The FCC says it will accept comments or petitions to deny the deal through JANUARY 19, with responses to those comments FEBRUARY 1, then replies from the other side FEBRUARY 13.