Today Clear Channel has been acquired by 2 investor groups. They are doing this to become a private company (not traded publicly on the NYSE). They have raised the price of the stock to "buyout" their shareholders.
We all know Clear channel from the outdoor billboards that we see on the roadways everywhere (I even saw some in the UK), radio stations, and Television stations (there is only one in Texas, San Antonio's NBC station).
As a result of this merger, they will be selling off some of their radio stations and all of their TV stations. Not to worry though, they are only selling off the stations that are outside of the Arbitron rated top 100 (which included all of the major TX radio markets).
I am really interested who will pick up the TV group. There isn't a TV company really looking to buy right now, but I am sure that somebody will pick them up.
The only thing that is a little sad is that WOAI in San Antonio is the anchor station of the Clear Channel stations, and I will wonder what will happen to it once it leaves the arms of Clear Channel...
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