Clear Channel Communications Leveraged Buyout

Communication Services · United States · $17.9B

In 2008, Bain Capital and Thomas H. Lee Partners completed a roughly $17.9 billion leveraged buyout of Clear Channel Communications, Inc., the parent company that at the time held a majority stake in the publicly traded Clear Channel Outdoor Holdings. The deal, first agreed in 2006 amid a difficult financing environment during the 2008 financial crisis, took the parent company private. Clear Channel Communications was later renamed iHeartMedia, and Clear Channel Outdoor Holdings became a fully independent public company in 2019 following iHeartMedia's bankruptcy restructuring.