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Clear Channel Ponders 'Strategic Alternatives'

Clear Channel, the nation's largest radio group owner, has confirmed speculation the company could be in play.

In response to stories it could be entertaining buyout offers, it issued the following statement Wednesday night, saying its board "is evaluating various strategic alternatives to enhance shareholder value," and that it has retained Goldman Sachs "as its financial advisor in connection with its evaluations."

Clear Channel indicated that it may or may not selling anything, saying "there could be no assurance that this process will result in any specific transaction."

Clear Channel owns approximately 1,200 radio stations, or about 9% of the stations in the country. It also has international radio holdings, owns or operates 40 TV stations, and has a massive outdoor advertising operation.