Clear Channel Communications Sold

Big changes are coming to radio stations across the country as the nation's largest radio group has agreed to be bought.

Clear Channel Communications will be bought by investment firms Thomas H. Lee Partners and Bain Capital Partners for about $18 billion.

Clear Channel owns or operates more than 1000 radio stations in the US, or about 10% of all stations in the country.

The company also announced it plans to sell off almost 500 of their radio stations and all 42 of its television stations across the nation.

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