(Reuters) - NEW YORK, April 20 - U.S. broadcaster Clear Channel Communications Inc. said on Friday it will sell its television group to Providence Equity Partners Inc. for about $1.2 billion.
The sale comes as Clear Channel considers a nearly $19.5 billion private equity buyout offer for the company. Bidders Thomas H. Lee and Bain Capital raised their offer for the company earlier this week, though it is unclear whether it will persuade enough shareholders to support the deal.
Read more at Reuters.com Mergers News
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