Clear Channel sets meeting date for merger vote

By Lisa Kerner

Charlotte, N.C., June 12 - Clear Channel Communications, Inc. shareholders will be asked to vote on the company's proposed merger with an investor group at a special meeting on July 24.

The record date for the meeting is June 19, a Clear Channel news release said.

The investor group, led by Bain Capital Partners, LLC and Thomas H. Lee Partners, LP, offered to acquire the San Antonio media company for $39.20 per share in September.

Clear Channel said it expects the transaction to close on July 30.

It was previously reported that the merger was originally expected to close in March but was slowed by lawsuits and settlement discussions among Clear Channel, CC Media Holdings, Inc. and the banks issuing debt commitments in connection with the proposed merger.

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