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Clear Channel Courts Minority Buyers

Not only has Clear Channel decided to sell its 42 TV stations and 430--or more than a third--of its radio stations, but it is actively recruting minority and female buyers in a big way.

Clear Channel, the Minority Media & Telecommunications Council, and the National Association of Broadcasters are hosting a meeting in Washington this week at NAB headquarters to give minorities and women tips on how to "best position themselves to purchase Clear Channel radio and television assets," said Clear Channel. A number of these assets are up for sale staring this month.

The conference, which drew about 120 attendees, according to Clear Channel, includes face time with its execs as well as tips on where to get the capital, business plans and due diligence.

It will be capped off by meetings with media brokers, broadcast engineers, and communications attorneys, then sit-downs with equity firms and banks.