(Reuters) - The sale comes as Clear Channel considers a nearly $19.5 billion private equity buyout offer for the company. Bidders Thomas H. Lee and Bain Capital raised their offer for the company earlier this week, though it is unclear whether it will persuade enough shareholders to support the deal.
Clear Channel will sell to Providence Equity 56 television stations located in 24 markets across the United States, as well as their related Internet sites and wireless projects. The deal is expected to close in the fourth quarter, subject to regulatory approval.
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