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Clear Channel defers first-quarter dividend due to delayed closing of merger
By Lisa Kerner
Charlotte, N.C., March 28 - Clear Channel Communications, Inc. said its board of directors, at the request of Bain Capital and Thomas H. Lee Partners, LLC, deferred consideration of a first-quarter dividend payable to shareholders.
Bain and Thomas H. Lee Partners made the request in light of the delayed closing of Clear Channel's merger with their affiliate, CC Media Holdings, Inc., a company news release said.
The board has historically declared a dividend to shareholders of record on the last day of a quarter, with payment on or before the 15th of the following month, according to the San Antonio media and entertainment company.
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