RadioBanter - "WSJ: Clear Channel deal is near collapse"

"WSJ: Clear Channel deal is near collapse"

Ouch, that's got to hurt. Just as Sirius and XM edge closer to
finalizing their own merger, the Wall Street Journal is now reporting
that Clear Channel Communications Inc. is having trouble closing their
own.

Indeed, they're saying it's nearing a complete "collapse."

According to WSJWhat-Murdoch-Must-Do-With-Dow-Jones sources, the
private equity firmsRecruiting-Under-the-Radar behind the deal
(Thomas H. Lee and Bain CapitalMitt-Romney-MBA Partners LLC) and the
banks financing it have failed to resolve their differences over the
terms of the credit agreement. Those banks are Citigroup, Morgan
Stanley, Deutsche Bank, Credit Suisse, RBS and Wachovia.

"The sponsors do not want to do this deal," said one person involved,
referring to the private equity firms. "No one wants to do this deal
except for the seller."

Aw shucks.

[Wall Street Journal]

http://www.orbitcast.com/archives/ws....html#comments

Suckers! CCU must be partly funding iNiquity! CCU stock reportly down
20% since closing - yea, Eduardo, RHF!