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Mays family awaits Clear Channel buyout

By Laurie Bennett   |   February 12, 2008 at 11:03am   |   0 Comments

For the Mays family, recent months have conjured Dickens’s Great Expectations.

The proposed $19 billion acquisition of Clear Channel, the broadcasting company founded by L. Lowry Mays, was announced more than a year ago. The buyers, Bain Capital and Thomas H. Lee Partners, delayed seeking approval from the Justice Department until they had cleared review with the Federal Communications Commission.

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