sirius merger - For real this time: FCC approves Clear Channel deal

January 24th, 2008 · No Comments

sirius merger -

We heard this news a couple weeks ago, but now it’s official: the FCC has approved the sale of Clear Channel Communications, Inc. to Bain Capital and Thomas H. Lee Partners.

As expected, the vote was unanimous in favor of the deal. But Copps and Adelstein still had some parting shots before approving:

“I concur in part to highlight my concern regarding alleged anticompetitive practices
with respect to advertising in the radio industry,” said Commissioner Adelstein in his statement (PDF).

“This case is a close call and one that I approach with decidedly mixed feelings,” said Michael Copps in his statement (PDF). “[W]hile the new company will remain a media giant—now refocused on the largest markets—there are some potential public interest benefits to this deal.”

For XM-Sirius merger watchers, there’s one interesting takeaway here, and that’s the Clear Channel deal is currently no where to be found on the FCC’s Items on Circulation list. Of course, the list is updated weekly, so it could appear soon… but remember the FCC’s decision on Clear Channel was heard about exactly two weeks ago.

[FCC MO&A (PDF)]