Thursday, November 16, 2006

Nearly all US radio stations change hands

The worrying dominance of the rabidly right-wing Clear Channel group in the US radio market has now become the worrying dominance of a pair of private equity companies: Thomas H. Lee Partners and Bain Capital. Oh, and the Mays family, who used to own Clear Channel.

The deal values the business at USD18.7billion. {Edited - see comments}

Thomas H Lee recently purchased Univision, which including a number of mainly Hispanic radio networks. We're sure this concentration of radio in still fewer hands will be welcomed by almost nobody, except that bloke off the Monopoly board.


The Cosmic Fluke said...

That's $18.7 BILLION, not million. Bit of a difference.

simon h b said...

Yes, my mistake... corrected now

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