private equity

Bain, Thomas H. Lee Complete Clear Channel Buyout

Stevie Converse — Thu, 31 Jul 2008 07:28:05 -0700

Harbinger of Things to Come in the News Business?

Stevie Converse — Fri, 25 Apr 2008 09:58:08 -0700

Once it was a matter of faith in the newspaper industry that family-controlled companies like the New York Times and Virginia's Media General didn't have to fear hostile takeovers. After all, they had two classes of stock.

Clear Channel Gets Court Order Against Banks

Stevie Converse — Thu, 27 Mar 2008 08:19:02 -0700

Clear Channel Communications, the nation’s biggest radio station operator, said Thursday that a Texas judge had issued an order barring banks from taking steps that would “interfere or thwart” the closing of the proposed $19.5 billion buyout of the company.

Clear Channel, Private Equity Firms Sue Banks

Stevie Converse — Thu, 27 Mar 2008 06:40:54 -0700

Clear Channel Communications Inc. and the private equity firms seeking to close a $19.5 billion purchase of the company on Wednesday sued the banks backing the deal.

Banks Balk at Paying for Clear Channel Deal

Stevie Converse — Wed, 26 Mar 2008 07:20:28 -0700

The $19.5 billion sale of the radio broadcaster Clear Channel Communications to two private equity firms is in jeopardy. This time, however, instead of the buyers balking, the banks that had agreed to finance the deal have become apprehensive.

Clear Channel Talks in Trouble

Stevie Converse — Wed, 26 Mar 2008 06:09:02 -0700

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.

Clear Channel Buyout: Not So Clear

Stevie Converse — Wed, 26 Mar 2008 05:09:42 -0700

One of the largest private equity buyouts ever of a major media company appears to be in jeopardy, as Clear Channel Communications' suitors, Thomas H. Lee Partners and Bain Capital Partners, find it increasingly difficult to raise the money needed for the acquisition.