Clear Channel Communications is currently exploring its options to optimize it capital structure. The company is considering entering into new incremental credit facilities, amending existing credit facilities, holding a debt offering or making a debt-for-debt exchange with existing holders. Proceeds, if any, are expected to be used to refinance existing debt. Clear Channel owns and operates radio and television stations. The company is backed by a consortium of investors led by Thomas H. Lee Partners and Bain Capital, which took the company private in a deal valued at $24 billion in 2008.