BREAKING: Clear Channel Settlement Near; Banks To Fund The Deal at $36 Per Share: WSJ

This story was written by Joseph Weisenthal.
A settlement to the Clear Channel (NYSE: CCU) mess that will see the banks fund at $36 per share the deal is near at hand, reports WSJ. Absent exact terms of the settlement, longsuffering Clear Channel shareholders like the news, as the stock is up over 11 percent today to nearly $33.50. The market senses something was in the works on reports this morning that the judge had delayed the trial date by one day, with no reason given. More to come

By Joseph Weisenthal


Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.

The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App