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Clear Channel Could Trade in a Channel for a While |
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| Mar 28, 2008 02:48 PM UTC |
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Tracked Blogger
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3/27 - "Investors in Clear Channel Communications (CCU) saw a bit of green in after hours trading Wednesday. The news that brought investors back into the equity was that the private equity groups who proposed the buyout are now suing the lenders who had agreed to back the deal. It has been alleged that the banks began to balk at financing the deal when debt markets took a turn for the worse. Bain Capital Partners and Thomas H. Lee Partners stated in their suit that the lenders tried to change the terms of the deal." "One thing is certain, CCU is now embroiled in a litigation battle, and it could be some time before the issue plays out. This effectively may cause Clear Channel to trade in a channel for some time." 
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3 Related Views
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 N/A |
What is Clear Channel Really Worth?
3/28 - "Who still thinks Clear Channel Communications is worth its buyout price of $39.20 a share?
Not investors, who have driven the shares down to around $28 this week based on fears of the buyout’s collapse. And not analysts, who increasingly value the company at between $25 to $27 a share. In the days prior to Clear Channel’s announcing its intentions to sell itself, the company was trad...
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N/A risk: moderate |
Clear Channel Ruling Should Boost BCE Shares
3/27 - "Last evening's decision by a Texas judge that would obstensibly force the banking syndicate to proceed with the Clear Channel LBO (CCU) cannot go unnoticed by every lender (and bank shareholder) in North America...Assuming the judge’s decision is upheld on any eventual appeal, BCE (BCE) shareholders can rejoice a snick (see prior post “Headline writers ‘misspeak’” March 26-08). Although...
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N/A risk: moderate |
Cutting Estimates and Target Price on CCU, Maintaining Strong Buy
3/26 - "We had previously modeled 0.5% revenue improvement at CCU’s radio division, but the industry’s struggles have deepened as the economy continues to slow and radio advertising demand weakens even more. We have revised our radio revenue assumption to a 0.6% dip, which is slightly ahead of our radio industry forecast of a 1% drop. With a weaker economy, we also trimmed back our expectations...
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