Money | Clear Channel $19B Buyout of Clear Channel Nearly Dead Credit woes have sale of radio giant to private firms crumbling By Matt Cantor Posted Mar 25, 2008 7:30 PM CDT Copied Motorists on Interstate 35 pass by a digital billboard, installed by radio and billboard giant Clear Channel, which changes images every eight seconds in this Feb. 12, 2007 file photo. (AP Photo/Jim Mone, file) A $19 billion bid to privatize Clear Channel appears likely to fall through as buyers and financiers bicker—with credit-crunch-induced liquidity woes a major stumbling block, the Wall Street Journal reports. A credit agreement between private equity firms and the banks funding the move has become shaky. “No one wants to do this deal except for the seller,” said a source. The sale was arranged in 2006, when access to credit, and prospects for the largest US radio broadcaster, were better. Selling to Thomas H. Lee Partners and Bain Capital for $39.20 a share seemed fitting, but now Clear Channel’s shares are closer to $32. The company’s “viability” isn’t the issue, says an expert: “It's purely the problems inherent in the debt world today.” Read These Next New Fox star, 23, misses first day after car troubles. White House rolls with Trump's 'daddy' nickname. Man accused of killing his daughters might be dead. Supreme Court ruling is a big blow to Planned Parenthood. Report an error