Clear Channel Talks in Trouble
Reuters, March 25, 2008
By Megan Davies
Talks over the $20 billion leveraged buyout of U.S. radio operator Clear Channel Communications Inc. are in trouble, with the banks financing the deal unwilling to take a mark-to-market loss, a source familiar with the situation said on Tuesday.
But the final resolution is unclear, with the buyers still wanting to do a deal, the source said.
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