SAN ANTONIO, TX, September 25, 2007 – Clear Channel Communications, Inc. (NYSE:CCU), a global leader in the radio broadcasting and out-of-home advertising industries, announced today that, based on a preliminary vote count, Clear Channel shareholders approved the adoption of the merger agreement with a group led by T.H. Lee Partners, L.P. and Bain Capital Partners, LLC.
Clear Channel Communications is the largest U.S. radio station boasting 1,100 AM, FM, and shortwave stations. In addition it has 30 plus TV stations and has 12 XM Satellite Radio stations.
This deal, even though not closed yet, could be significant. No candidate running for President of the United States at this time could boast such direct influence with the media. One has to wonder if the Romney campaign would make it publicly known that their candidate was tied to the above mentioned 1,100 radio stations 12 XM stations and 30 plus TV stations. Would these stations in the tradition of honest journalism mention their ties to Romney whenever a story about the 2008 Presidential race was discussed? This writer sure hopes so. The American electorate deserves to have the whole truth so that any bias, accidental or not, can be considered.
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