In the spotlight: Deals
and no deals
Media outlets are widely reporting that the proposed $19
billion sale of Clear Channel is
near collapse. Negotiations between private equity firms Thomas H. Lee and Bain
Capital Partners, on one side, and a group of banks including Citigroup, Morgan
Stanley, Deutsche Bank, Credit Suisse, RBS, and Wachovia, on the other, went
sour over financial terms. Regarding radio that operates beyond the surly
bounds of Earth, the Department of Justice approved
XM's merger with Sirius; the Federal Communications Commission is expected to act
quickly. Meanwhile, Hearst is
now the proud owner of a relationship site.
Pinch Sulzberger took
a pay cut last year.
New York Giants fans will have to watch their team open its title
defense around Sen. John McCain's (R-AZ) acceptance speech at the Republican convention.
at the Republican convention.
Get ready for more