Clear Channel Facing Multiple Hurdles In Attempt To Go Private

from the the-sale-before-the-sale dept

Last November, radio broadcaster Clear Channel announced that it would be taken private by a group of private equity firms for $19 billion. But the deal is just one of many such deals whose status is currently in doubt, as financing and credit have significantly dried up of late. As part of the preconditions for the sale, Clear Channel agreed to dump nearly 400 local stations across the country. Now, however, that's proving to be a significant snag, as buyers of the stations are now going back on their agreements (via Deal Journal), due to the same financing issues affecting everyone else. Assuming that agreements can't be worked out, the company may be forced to slash the prices on these stations or risk imperiling its own plan to go private.


Reader Comments (rss)

(Flattened / Threaded)

  1.  
    identicon
    Anonymous Coward, Aug 27th, 2007 @ 4:58pm

    Whatever it takes to undo the concentration of media outlets is ok with me.

     

    reply to this | link to this | view in thread ]

  2.  
    identicon
    Mystified, Aug 27th, 2007 @ 5:05pm

    Re:

    I'll second that!

     

    reply to this | link to this | view in thread ]

  3.  
    identicon
    scott, Aug 27th, 2007 @ 6:24pm

    Re: Re:

    yeah baby!

     

    reply to this | link to this | view in thread ]

  4.  
    identicon
    mike allen, Aug 27th, 2007 @ 11:56pm

    Clear Channel have all but killed US radio now they moan they cant sell a few locals er after Clear Channel owned no one wants them

     

    reply to this | link to this | view in thread ]


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