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DANA POINT, Calif. — Radio broadcasting giant Clear Channel is breaking into the TV production business.
The company announced Tuesday that it is taking a minority stake in the production company of “American Idol” host Ryan Seacrest. Ryan Seacrest Media produces “Keeping Up With the Kardashians” and other shows, including “Jamie Oliver’s Food Revolution.”
In a separate deal, Clear Channel’s majority investors, Thomas H. Lee Partners and Bain Capital, are committing $300 million combined to work with Seacrest’s company to identify, acquire and develop innovative media companies.
Denver Post staff and wire reports
