MediaBuyerPlanner: Clear Channel shareholders have voted to approve the buyout by Thomas H. Lee Partners and Bain Capital Partners, writes Mediaweek.
Shares voted in favor of the deal amounted to 73 percent, surpassing the 66 percent needed for approval by a comfortable margin.
The deal, which is subject to regulatory approval, is expected to close by the end of the year.
Related stories:
- Clear Channel Sets New Date for Shareholder Vote
- Clear Channel Takeover Moves Closer to Reality
- Clear Channel Accepts Revised Bid
- Shareholders to Vote on New Clear Channel Bid on May 8
- As Shareholder Vote Looms, Firms Sweeten Clear Channel Bid
- Private Equity Consortium May Sweeten Clear Channel Bid
- Clear Channel Buyout Looking Unlikely
- Clear Channel Delays Vote
- More Analyst Doom Descends upon Clear Channel
- Analysts Believe Clear Channel Takeover Bid Will Falter
- Clear Channel Buyout Signals Growth of Outdoor Market
