Clear Channel Communications offer unclear

Bahrain News.Net
Wednesday 26th March, 2008

The fate of US radio operator Clear Channel Communications is in the balance.

A buyout for Clear Channel is in jeopardy after banks became reluctant to lend to private equity players, Thomas H. Lee Partners and Bain Capital Partners.

The final resolution is unclear but the banks have appeared to be unwilling to account for any losses on the loans they agreed to make for the deal.

If the Clear Channel deal falls apart, it would be the latest in a series of leveraged buyouts that have failed since the credit crisis began last year.

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