Family will still run Clear Channel

Clear Channel Communications Inc. said the Mays family would continue to lead the radio broadcaster after its purchase for $19.5 billion by Thomas H. Lee Partners and Bain Capital.

Lowry Mays, founder and chairman, will continue to serve in the new corporation and plans to invest in the company, San Antonio-based Clear Channel said in a regulatory filing. Mark Mays will remain chief executive and Randall Mays will continue as president and chief financial officer..