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.