Clear Channel On The Block for $18 Billion

Clear Channel might change hands:

Two consortiums of private equity firms were expected to submit final auction bids on Monday for the largest radio company in the United States, Clear Channel Communications, worth about $18 billion, according to people involved in the auction.

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Clear Channel was put on the market last month by the Mays family, which built the company into the largest U.S. network of radio stations, including Z100 in New York and KIIS-FM in Los Angeles.

Remains to be seen how this would affect Clear Channel's fledgling liberal talk radio which includes KTLK AM 1150 in Los Angeles, which in turn carries most Air America programming as well as Stephanie Miller and Ed Schultz.



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