Clear Channel, Banks Sing A Different Tune

Law360, New York (May 12, 2008, 12:00 AM EDT) -- Clear Channel Communications Inc. and the private equity firms that wanted to buy it for nearly $20 billion are in settlement discussions with the banks that were to fund the deal, the radio company said Monday.

A proceeding connected to litigation in Texas over the failed deal was postponed until Tuesday because of settlement talks, Clear Channel said. The company refused to comment on any potential settlement terms or the likelihood that a deal would be reached.

However, the Wall Street Journal reported that the banks...
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