Clear Channel says completes TV asset sale for $1.1bln

NEW YORK (Reuters) - U.S. radio operator Clear Channel Communications Inc. said on Friday it completed the sale of its television assets to Newport, a company set up by Providence Equity Partners to make the acquisition, for $1.1 billion.

Clear Channel agreed to sell the 56 television stations to Providence in April 2007 for $1.2 billion but the deal faltered amid the market turmoil and was renegotiated to a lower price.

(Reporting by Megan Davies; Editing by Derek Caney)