Updated at 11:06 a.m., Thursday, November 16, 2006
Clear Channel radio network OKs $26.7B takeover
Advertiser StaffClear Channel Communications Inc., the owner of KSSK and five other Hawai'i radio stations, agreed to a more than $26.7 billion takeover by Thomas H. Lee Partners LP and Bain Capital Partners LLC.
The company is the largest U.S. radio broadcaster. Its holdings in Hawai'i include the AM and FM stations of KSSK, KHVH-AM, KIKI-FM, KHBZ-AM, KDDN-FM and KUCD-FM.
Separately, San Antonio, Texas-based Clear Channel said it plans to sell 448 of its 1,150 radio stations that are located outside the top 100 U.S. media markets.