FCC approves Clear Channel Communications buyout by Thomas H. Lee Partners, Bain Capital

The Federal Communications Commission has unanimously approved a $19.5 billion buyout of Clear Channel Communications Inc. by Thomas H. Lee Partners Inc. and Bain Capital LLC. This is according to two people at the agency. The 5-0 vote was taken in private by members of the agency, two FCC staff members said Thursday. They requested anonymity because the decision has not been made public. The deal still requires approval by the Justice Department.

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