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