FCC Schedules Comments in Clear Channel Deal

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The FCC has scheduled the comment period for the application by radio and TV group owner Clear Channel to take the company private, which won't be completed until February at the earliest.

Clear Channel teamed with investment groups Thomas H. Lee Equity Fund and Bain Capital on the $26.7 billion deal. Clear Channel also is selling its TV station group and more than a third of its radio stations to reduce debt.

Clear Channel is best known as the poster-company for consolidation. it owns 1,172 radio stations and 32 TVs.

The FCC says it will accept comments or petitions to deny the deal through Jan. 19, with responses to those comments Feb. 1, then replies from the other side Feb. 13.

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