The World: Boston - Clear Channel accepts joint $17.9bn takeover offer

Clear Channel's shareholders have approved a $17.9 billion (£8.9 billion) takeover by the private equity companies Bain Capital and Thomas H Lee Partners.

The purchase of Clear Channel, which is the largest radio station owner in the US, ends a 20-month pursuit by the private equity suitors.

Clear Channel said that about 97 per cent of the shares votes cast were in favour of the deal.

Clear Channel owns more than 1,200 US radio stations and almost one million outdoor sites around the world.