You will be redirected back to your article in seconds

Clear Channel brings AMFM into focus

Justice Dept. took final step in approving deal

TV and radio group Clear Channel Communications said Tuesday that it expects to complete a $23.8 billion purchase of radio broadcaster AMFM as soon as today, creating a 900-station radio group that would rank as the nation’s largest.

The Justice Dept. took the final step in approving the transaction on Tuesday, asking a federal court to approve an agreement in which the companies will sell about 100 stations to resolve antitrust issues in 27 markets. A judge is expected to approve the agreement today.

It’s been about 11 months since San Antonio-based Clear Channel agreed to buy Dallas-based AMFM.

Separately on Tuesday, live-concert producer SFX Entertainment won a judge’s approval for a $34.5 million settlement of lawsuits filed by shareholders, who contended they’d be shortchanged in a $4 billion buyout by Clear Channel.

Clear Channel completed the acquisition of New York-based SFX on Aug. 1. The settlement, announced after a judge’s decision in Dover, Del., involved a suit that had been filed in Chancery Court in Wilmington.

— From wire service reports

More News

  • steve dayan Teamsters Local 399

    Hollywood Teamsters, Basic Crafts Unions Launch Contract Negotiations

    TV and radio group Clear Channel Communications said Tuesday that it expects to complete a $23.8 billion purchase of radio broadcaster AMFM as soon as today, creating a 900-station radio group that would rank as the nation’s largest. The Justice Dept. took the final step in approving the transaction on Tuesday, asking a federal court […]

  • 'Just Cause 4' Introduces 'Extreme Weather,'

    'Just Cause 4' Introduces 'Extreme Weather,' Physics Settings, and More

    TV and radio group Clear Channel Communications said Tuesday that it expects to complete a $23.8 billion purchase of radio broadcaster AMFM as soon as today, creating a 900-station radio group that would rank as the nation’s largest. The Justice Dept. took the final step in approving the transaction on Tuesday, asking a federal court […]

  • Dont Believe Every Tweet - Nathan

    Fake Twitter Campaign Warning of Fake Tweets Created by TV Writer Looking for Work

    TV and radio group Clear Channel Communications said Tuesday that it expects to complete a $23.8 billion purchase of radio broadcaster AMFM as soon as today, creating a 900-station radio group that would rank as the nation’s largest. The Justice Dept. took the final step in approving the transaction on Tuesday, asking a federal court […]

  • Manuela Herzer

    Manuela Herzer Cites CBS-NAI Fight in Renewed Bid for Sumner Redstone Competency Ruling

    TV and radio group Clear Channel Communications said Tuesday that it expects to complete a $23.8 billion purchase of radio broadcaster AMFM as soon as today, creating a 900-station radio group that would rank as the nation’s largest. The Justice Dept. took the final step in approving the transaction on Tuesday, asking a federal court […]

  • A trading post sports the Spotify

    Sony Music's $750 Million Spotify 'Windfall' Leaves Some Lingering Questions

    TV and radio group Clear Channel Communications said Tuesday that it expects to complete a $23.8 billion purchase of radio broadcaster AMFM as soon as today, creating a 900-station radio group that would rank as the nation’s largest. The Justice Dept. took the final step in approving the transaction on Tuesday, asking a federal court […]

  • Valve's Steam.tv is Currently Streaming 'Dota

    Valve's Steam.tv Is Currently Streaming 'Dota 2'

    TV and radio group Clear Channel Communications said Tuesday that it expects to complete a $23.8 billion purchase of radio broadcaster AMFM as soon as today, creating a 900-station radio group that would rank as the nation’s largest. The Justice Dept. took the final step in approving the transaction on Tuesday, asking a federal court […]

  • MPAA Chief Charles Rivkin

    MPAA Chairman Charles Rivkin: Internet Platforms 'Must Bear Responsibility'

    TV and radio group Clear Channel Communications said Tuesday that it expects to complete a $23.8 billion purchase of radio broadcaster AMFM as soon as today, creating a 900-station radio group that would rank as the nation’s largest. The Justice Dept. took the final step in approving the transaction on Tuesday, asking a federal court […]

More From Our Brands

Access exclusive content