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CNBC REPORTS CLEAR CHANNEL DEAL IS DONE!

by newradiostar on 13 May 2008, 17:09   0 comments , 68 views
Tags: clear channel
CNBC reported this afternoon that the deal to fund the purchase of Clear Channel has been reached with the banks signing on at $36 a share...originally the price was in the $39 per share range, but the economy had an impact on five banks willingness to finance the deal...A trial that was expected to begin today but has been postponed as Bain Capital and Thomas H. Lee Partners began to work on a settlement.  The new has to go back to a new vote of Clear Channel shareholders and is expected to take about 3 months to complete...More details here at CNBC.com
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