Clear Channel has everyone guessing


Will the 26.7 billion bucks buyout close next week, or won’t it? Rumors are flying that some of the lenders want out. But Thomas H. Lee Partners Co-President Scott Sperling said in a CNBC interview that his firm and Bain Capital have binding commitments from the lenders. He just chuckled when CNBC’s Erin Burnett suggested that the bankers might offer the private equity firms a couple of billion bucks to call the whole thing off. Otherwise, Sperling was careful to take the “no comment” route on every question about whether or not the deal would go to closing as Burnett tried repeatedly to trick him into giving some hint of where the deal stands.

RBR/TVBR observation: The opera ain’t over until the fat lady sings. Is she tuning up to serenade us next week, or not? Aside from not telling us much at all about Clear Channel, Sperling was very interesting in his take on current economic conditions, a little criticism of the Fed for not being narrowly targeted in trying to battle problems, and his long-term patience. The video is worth a look and listen.