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Jul 17, am Ruling in gay-divorce case could redefine parent - AZCentral. Jun 23, am Court to rule on parental rights of divorced same-sex couples - AZCentral. In the U. The company's new name is intended to reflect its growing digital business. Since , iHeartMedia, Inc. Various media outlets, including Bloomberg News , Reuters , Radio Ink , and iHeartMedia's hometown newspaper the San Antonio Express-News , claimed that either bankruptcy or a major restructuring was likely.
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In , the company purchased its first stations outside of San Antonio. In , the U. Congress relaxed radio ownership rules slightly, allowing the company to acquire more than 2 stations per market. By , Clear Channel owned 43 radio stations and 16 television stations. When the Telecommunications Act of became law, the act deregulated media ownership, allowing a company to own more stations than previously allowed. Clear Channel went on a subsequent buying spree, purchasing more than 70 other media companies and individual stations.
In a few cases, following purchase of a competitor, Clear Channel was forced to divest some of its stations, as it was above the legal thresholds in some cities. In Clear Channel moved out of pure broadcasting when it purchased billboard firm Eller Media,  which was led by Karl Eller. In it made its first move outside of the United States when it acquired the leading UK outdoor advertising company More Group plc, which was led by Roger Parry ; Clear Channel went on to buy many other outdoor advertising, radio broadcasting, and live events companies around the world, which were then re-branded Clear Channel International.
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In , the company acquired Jacor Communications, a radio corporation based in Cincinnati. The resulting company would own radio stations, 19 television stations, and over , outdoor displays in 32 countries. In , Clear Channel Communications split into three separate companies. Clear Channel Communications was a radio broadcaster; Clear Channel Outdoor was out-of-home advertising ; and Live Nation was live events. On November 16, , Clear Channel announced plans to go private, being bought out by two private-equity firms, Thomas H. Lee Partners.
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In early , it was announced that the company was facing bankruptcy due to its "crippling debt. Sillerman 's SFX Entertainment whose original incarnation was, coincidentally, sold to Clear Channel and spun off to form Live Nation , to collaborate on electronic dance music content for its digital and terrestrial radio outlets, including a Beatport top 20 countdown show.
In , one of the company's directors, Julia B. Donnelly, left the board of iHeartCommunications and was replaced by Laura A. Grattan, a director at Thomas H. On November 30, , it was reported that a group of creditors had rejected iHeartMedia Inc. In a separate transaction also announced on November 16, , Clear Channel said it would seek buyers for all of its television stations and of its smaller radio stations, because the private-equity buyers were not interested in owning television or small-market radio.
The television stations were ultimately sold to Newport Television. On September 25, , the shareholders approved of the buyout, allowing Clear Channel to proceed with being taken private, ending 35 years as a public company.
Due to the credit market crunch of , Clear Channel had difficulty selling some of its radio stations. Clear Channel's attempt to sell off over stations to GoodRadio. TV, LLC was rejected by the equity firm backing the deal.