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The buyers, led by Bain Capital Partners and Thomas H.
Lee Partners, agreed to pay .7 billion for the company.
(formerly CC Media Holdings, Inc.) is an American mass media corporation headquartered in San Antonio, Texas.
It is the holding company of i Heart Communications, Inc.
On January 6, 2014, Clear Channel announced a marketing partnership with Robert F. Sillerman's SFX Entertainment (whose original incarnation was, coincidentally, sold to Clear Channel and spun off to form Live Nation), which will see the two firms collaborate on electronic dance music content for its digital and terrestrial radio outlets; including a Beatport top 20 countdown show (which will air on some of i Heart Media's major-market contemporary hit radio stations), a national talent search, and an "original live music series", which will include two concerts in the style of its Jingle Ball events around Halloween 2014.
The partnership will expand upon i Heart Media's existing EDM-oriented outlets (such as Evolution). Grattan named to the board of managers of i Heart Media Capital I, LLC, the direct parent of i Heart Communications, as well as the board of directors of i Heart Media, Inc., the indirect parent of i Heart Communications.
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.
Clear Channel Communications purchased its first FM station in San Antonio in 1972.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 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.