Wednesday, March 26, 2008

Clear Channel radio deal in tatters

Go to Financial Times original
The $19bn Clear Channel buy-out collapsed on Wednesday as the media group and private equity firms Bain Capital and Thomas H Lee filed suits accusing theirr banks of reneging on financing commitments.

The suits, which call for the banks to provide $22bn in funding, marked the unravelling of the close and profitable relationship that prevailed between banks and private equity firms when easy credit fuelled a buy-out boom.

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2 comments:

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