Clear Channel Communications Inc, which owns 90% of the separately listed Clear Channel Outdoor, has postponed a crucial shareholder vote on the sale, originally scheduled for last week, until 8 May.
The board of Clear Channel Inc is recommending that shareholders accept the deal, after the private equity group, co-led by Bain Capital Partners and Thomas H Lee Partners, improved its offer from $37.60 per share (£18.76) in cash to $39 (£19.50).
Barry Sayer, chief executive of Clear Channel Outdoor UK, said nothing would change in the short term for the outdoor business, while longer term plans would depend on the decisions of the new owners.
"It doesn't affect us directly, but we would have private owners of the company rather than Clear Channel Inc as public owners," Sayer said. "Is that uncertainty? I'm not sure - boards can make decisions at any time regarding the future of their assets." He added that Clear Channel's UK outdoor business was currently trading very well and it was "business as usual".
Clear Channel Inc has agreed to sell its television group, which includes 56 stations in 24 markets across the US, to Providence Equity Partners for about $1.2bn (£0.6m).
The company has previously announced plans to divest 448 radio stations in 88 markets and, to date, has agreed to sell 161 stations in 34 markets for about $331m (£165m).
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