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The following is an email from Mark P. Mays, Chief Executive Officer of Clear Channel Communications, Inc., dated November 16, 2006, to the employees of Clear Channel Communications, Inc.
Good morning,
Today, our Board of Directors announced it has concluded its strategic review process and has decided to take the following actions:
•Clear Channel Communications, Inc. will merge with an investment group consisting of Thomas H. Lee Partners, L.P., Bain Capital Partners, LLC, Randall Mays, Lowry Mays, and myself.
•We plan to sell our television station group, and we also plan to sell 448 of our radio stations that operate outside the top 100 U.S. markets.
The complete SEC filing can be viewed here: http://www.sec.gov/Archives/edgar/data/739708/000095013406021773/d41428d2defa14a.htm
Good morning,
Today, our Board of Directors announced it has concluded its strategic review process and has decided to take the following actions:
•Clear Channel Communications, Inc. will merge with an investment group consisting of Thomas H. Lee Partners, L.P., Bain Capital Partners, LLC, Randall Mays, Lowry Mays, and myself.
•We plan to sell our television station group, and we also plan to sell 448 of our radio stations that operate outside the top 100 U.S. markets.
The complete SEC filing can be viewed here: http://www.sec.gov/Archives/edgar/data/739708/000095013406021773/d41428d2defa14a.htm