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Clear Channel buyout by private equity group approved by U.S. Department of Justice

February 2008

Client(s) Clear Channel Communications, Inc.

Jones Day acted as U.S. antitrust counsel to Clear Channel Communications in connection with the $24 billion buyout by a private equity group co-led by investment firms Bain Capital Partners, LLC and Thomas H. Lee Partners, L.P. A global media and entertainment company, San Antonio-based Clear Channel specializes in mobile and on-demand entertainment and information services, including radio and outdoor displays. The transaction received approval by the Department of Justice Antitrust Division (DOJ) in February 2008 subject to certain radio station divestitures.

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