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Clear Channel
Latest Headlines
Latest Headlines
Recovery in leveraged loan market?
IDD reports that the syndicated loan market is still struggling. A big part of that is the on-going drought in leveraged loan issuance, which reflects largely the slowdown in LBO activity. New issuance of loans backing buyouts fell 86 percent in the second quarter to $7.9 billion. That compare
Big test of leveraged loan market coming up
The leveraged loan market has been whipped recently. Obviously, it went into the doldrums as the credit crunch reached its nadir. But then the vultures moved in, including a lot of private equity firms, and it looked like the debt was heading back to par. Now, it's a mixed bag. We may get a cleare
ALSO NOTED: Merrill Lynch changes stock rating system; Merrill Lynch, Citigroup execs look to former colleagues for talent; and
Company News: > Freddie beats expectations. Article > More on the Clear Channel agreement. Article > ING reports big drop in earnings. Article > Merrill Lynch changes stock rating system. Video > Len Dykstra is bullish on Morgan Stanley. Article > M
ALSO NOTED: Blackstone adds to Asian hedge fund lineup; Wachovia to review controls; and much more...
Company News: > Former Bank of America exec extradited. Article > JPMorgan to cut 4,000 jobs. Article > Did Swiss bank fund terrorists? Article > Bank of America's 'Keep the Change' program hits milestone. Article > Wachovia to review controls. Article
Clear Channel deal imminent?
With a trial about to start, hedge fund Highfield Capital and Morgan Stanley decided that all parties to the troubled Clear Channel deal should come to some sort of agreement. A jury trial would not be in anyone's best interests; a lot of dirty laundry and emails just might come out. And so, a de
Clear Channel trial to get underway
The court battle pitting six banks--including Citigroup , Deutsche Bank, Morgan Stanley , Wachovia--against private equity firms Bain Capital and THL Partners is expected to get underway next week. You can bet it will be closely watched. The private equity firms are aiming to compel the ban
Emails to figure prominently in Clear Channel fight?
Recall that Bain Capital and THL Partners sued a bevy of banks, notably Citigroup  and Deutsche Bank , hoping to compel them to finance their $27 billion deal to buy Clear Channel. The New York Post reports that some emails sent among the bankers may be used by the private equity plain
SPOTLIGHT: Texas trial
This could get interesting. The Clear Channel trial is set to take place in a Texas state court. Citigroup, Morgan Stanley, and others who balked at financing the $19 billion deal on behalf of Bain and Thomas H. Lee Partners have a lot on the line. Article
(Citigroup, Clear Channel, Le
Clear Channel battle turns ugly
The New York Times recounts how Bain Capital and THL Partners officials received a misfired email--one that was meant for anyone but them. It seemed to be all about how the six banks that had agreed to finance the deal were planning to renege. The deal went downhill from there, and now has en
Banks still balking at Clear Channel deal
The Clear Channel saga continues, and it may end in court. At issue: Bank financing for the nearly $20 billion deal. The two buyout firms--Bain Capital and Thomas H. Lee Partners--seem willing to go to court (and the media) to force banks to honor their commitments, according to the New York Ti
