Clear Channel Buyout Near Collapse-Report

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It looks like Clear Channel is the only one who wants its $19 billion buyout to close. The WSJ reports the "mood around the deal has darkened" as the prospective buyers, Thomas H. Lee Partners and and Bain Capital Partners, are unable to come to terms with its lenders, Citigroup, Morgan Stanley, Deutsche Bank, Credit Suisse, RBS and Wachovia.

The Journal's source says it all: "No one wants to do this deal except for the seller."



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4 Comments

jenkins said:
What in the world does this have to do with Silicon Alley or the Internet?

po said:
With Clear Channel trying to compete against the likes of Internet radio -- it seems relevant to me to watch these "old-school" media hands try to go up against brands like XM and Sirius...which (aha) got approval to merge just yesterday - yes? Also - doesn't Clear Channel have an online/Internet player?



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