Clear Channel sets new record date for Sept. 25 meeting; shareholders to vote on merger

By Lisa Kerner

Charlotte, N.C., Aug. 13 - Clear Channel Communications, Inc. set a new record date of 5 p.m. ET on Aug. 20 for its special meeting of shareholders. The shareholders' meeting is set for Sept. 25.

Shareholders of record will be asked to vote on the company's proposed merger with a group led by Bain Capital Partners, LLC and Thomas H. Lee Partners, LP.

As previously reported, the company's board approved a second amendment to the agreement on May 18, giving shareholders a 20 cent boost per share, to $39.20 cash, plus an additional consideration if the deal closes prior to Dec. 31.

The amendment also offers the San Antonio media company's unaffiliated shareholders the opportunity to exchange Clear Channel common stock on a one-for-one basis for shares of class A common stock in the new corporation, up to a total of 30.6 million shares valued at $1.2 billion.

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