Clear Channel agrees to be taken private

Wow – this is huge! I have a lot of friends that work at Clear Channel – I hope this ends up being good for them.

UPDATE : A private investor group is making a bid to acquire radio, television and advertising giant Clear Channel Communications Inc. for approximately $26.7 billion.

SAN ANTONIO – Clear Channel Communications Inc., the nation’s biggest radio station owner, said Thursday it has agreed to be taken private for about $18.7 billion by an investment group.

Source: Clear Channel agrees to be taken private – U.S. Business – MSNBC.com