Akin Gump Assists Clear Channel in $4.4 Billion Acquisition

(San Antonio, Texas) -- On February 29, 2000, Clear Channel Communications, Inc. announced its intent to acquire SFX Entertainment, Inc. in a stock merger that valued SFX at $4.4 billion.

Clear Channel Communications, Inc. is a global leader in the out-of-home advertising industry with radio and television stations and outdoor displays in 32 countries around the world. Including announced transactions, Clear Channel operates 867 radio and 19 television stations in the United States reaching over 120 million people weekly.

SFX is the world’s largest diversified promoter, producer and venue operator for live entertainment events.

Akin Gump assisted Clear Channel in the transaction. 

Founded in 1945, Akin, Gump, Strauss, Hauer & Feld, L.L.P., a leading international law firm, numbers 900 lawyers with offices in Austin, Brussels, Dallas, Houston, London, Los Angeles, Moscow, New York, Philadelphia, Riyadh (affiliate), San Antonio and Washington. The firm has a diversified practice and represents regional, national and international clients in a wide range of areas, including antitrust; banking and financial institutions; bankruptcy, reorganization and creditors’ rights; capital markets; communications; corporate and securities; employee benefits; energy; entertainment; environmental; estate planning and probate; food and drug; government contracts; health; insurance; intellectual property; international; investment management; labor and employment; litigation; mergers and acquisitions; privatization; project finance; public law and policy; real estate and finance; taxation; and technology. For additional information, please visit our Web site at http://www.akingump.com.