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Clear Channel Moves To Acquire SFX Entertainment
In a deal that aims to unite the top concert promoter in the world with a company that is likely to soon be the largest radio station owner in the United States, broadcasting corporation Clear Channel Communications has agreed to purchase live entertainment giant SFX Entertainment. Under the terms of the $2.9 billion stock swap, Clear Channel will also take on about $1.1 billion of SFX debt.
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