Clear Channel’s proposed $19bn buy-out remained on shaky ground Tuesday as private equity firms and banks remained at loggerheads over terms of the deal’s financing. Neither side had been in contact for the past few days, according to a person familiar with the matter, suggesting a stalemate. Clear Channel, the largest US radio station operator, has become a test of banks’ willingness to fund highly leveraged private equity deals agreed when credit was readily available and inexpensive. (Financial Times)
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