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i Heart Media staff, including John Sykes, believed that the deal (particularly the Beatport countdown show) would help provide a higher level of national exposure to current and up and coming EDM artists. Donnelly, left the board of i Heart Communications and will be replaced by Laura A. On November 30, 2017, it was reported that a group of creditors had rejected i Heart Media Inc.’s latest debt restructuring proposal, instead bringing out a deal where the company might file for chapter 11 bankruptcy.
On Friday, November 17, 2006, Clear Channel announced that it was going private and selling off almost one-third of its radio assets, according to The Washington Post and DHM.
In 1997 Clear Channel moved out of pure broadcasting when it purchased billboard firm Eller Media, which was led by Karl Eller. In August 1997, Capstar and Hicks, Muse, Tate & Furst announced plans to acquire SFX Broadcasting, with the resulting company owning 314 stations in 79 markets and ranking as the third-largest radio group by income.
In 1998 it made its first move outside of the United States when it acquired the leading UK outdoor advertising company More Group plc, which was led by Roger Parry; Clear Channel went on to buy many other outdoor advertising, radio broadcasting, and live events companies around the world, which were then re-branded Clear Channel International. A year later, Chancellor Media Corporation and Capstar Broadcasting Corporation announced a merger that would result in Chancellor Media owning 463 stations in 105 markets when the deal was completed in second quarter 1999.
In a separate transaction also announced on November 16, 2006, Clear Channel said it would seek buyers for all of its television stations and 539 of its smaller radio stations, presumably because the private-equity buyers are not interested in owning television or small-market radio.
Over a hundred stations have already been assigned to Aloha Station Trust, LLC upon the consummation of the merger.
The resulting company would own 830 radio stations, 19 television stations, and over 425,000 outdoor displays in 32 countries.
Stations were also added in Port Arthur, Texas (KPAC-AM-FM from Port Arthur College) and El Paso, Texas (KELP AM (now KQBU AM) from John Walton, Jr.). By 1995, Clear Channel owned 43 radio stations and 16 television stations.
On November 16, 2006, Clear Channel announced plans to go private, being bought out by two private-equity firms, Thomas H.
Lee Partners and Bain Capital Partners for .7 billion, which was just under a 10 percent premium above its closing price of .36 a share on November 16 (the deal values Clear Channel at .60 per share).
In a few cases, following purchase of a competitor, Clear Channel was forced to divest some of its stations, as it was above the legal thresholds in some cities.
In 2005, the courts ruled that Clear Channel must also divest itself of some "border blaster" radio stations in international border cities, such as the alternative rock radio station XETRA-FM ("91X") in Tijuana, Baja California/San Diego. Steven Hicks and Hicks, Muse, Tate & Furst began Capstar Broadcasting in 1996 and a year later had become the largest owner of radio stations in the country, with 243 stations in all.
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(formerly Clear Channel Communications, Inc.), a company founded by Lowry Mays and B. "Red" Mc Combs in 1972, and later taken private by Bain Capital, LLC and Thomas H. As a result of this buyout, Clear Channel Communications, Inc.