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Bain Capital

May 15, 2008

The Mays’ family-run media company Clear Channel Communications has reached a settlement with the banks it sued in March for hindering its proposed merger with CC Media Holdings.

The Mays' family-run media company Clear Channel Communications has reached a settlement with the banks it sued in March for hindering its proposed merger with CC Media Holdings.

The settlement is based on an amendment to the merger agreement, which now offers Clear Channel shareholders $36 in cash for each share they own, valuing the deal at $17.9 billion.

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