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Clear Channel Shares Plummet on Report That Buyout Deal Is on Brink of Collapse

Sounds like they're getting a taste of their own karmaic medicine.
 
Instant Karma is going to get you!..couldn't happen to a nicer company.
 
OK so am I reading this correctly?

"They won't give us money, so we'll sue 'em for it!"

If that's the case... CC is taking the "path" to "etic" ville.

Andy
 
UPDATED BREAKING NEWS:

A Texas judge ruled that the the companies must complete the deal. Must have come down over night or late yesterday.
 
adguy said:
UPDATED BREAKING NEWS:

A Texas judge ruled that the the companies must complete the deal. Must have come down over night or late yesterday.
Click to expand...

What a load of stupidity... So I guess this same judge gets to force the FCC to approve this merger?

I figure this will drag on for years.

Andy
 
They are citing "irreparable harm" in their court arguments? Look what they have done to this industry and, especially, persons in this business trying to make an honest living with a career in broadcasting. Talk about irreparable harm. I have no sympathy for these people. They should be the ones out on the street.....and I mean now!
I think the next time I get turned down for a car or home loan, I will just sue the bank and cite "irreparable harm".
If financial backers are now wanting to walk, more power to them! The banks are now seeing the hand writing on the wall when it comes to dealing with these folks.
They will settle like they just did with the TV deal, just not get the money they want!
I'll crawl back in my hole now....... ;)
 
Andyf101 said:
What a load of stupidity... So I guess this same judge gets to force the FCC to approve this merger?
Click to expand...

It already did. As far as regulatory matters go, it's a done deal.
 
DavidEduardo said:
Andyf101 said:
What a load of stupidity... So I guess this same judge gets to force the FCC to approve this merger?
Click to expand...

It already did. As far as regulatory matters go, it's a done deal.
Click to expand...

I don't think so.

Under the judge's order, the banks must not "interfere with or thwart consummation of the merger agreement" by refusing to fund it, insisting on terms other than those in the agreement, or refusing "to act in good faith in the drafting of definitive loan documents." An earlier version of this article incorrectly said the order compels the banks to issue buyout financing immediately.
Click to expand...

Where does it say the FCC has given this merger the green light?

Andy
 
Considering its the same marionettes in the white house and DOJ as it wasin the enron days..what do you expect? Remember when there used to be anti-trust laws?Competition is a word in the dictionary anymore.
 
I hope the crooks go down in flames. The reason why the FCC thinks of us as the enemy these days is because of companies like CC. To hell with them via the expressway to hell. Maybe they'll bleed enough red that they'll have a nice firesale where the nice people in the local community can buy the channels for what their REALLY worth and run them like a business instead of the flying corporate circus the San Antonio carpetbaggers have been running all these years.

Since when can a person SUE a bank because they won't give them the money they promised? I bet a individual could have the signature of the owner of the bank and still have a deal for a loan cancelled in the bank had even a thought that the property they were buying was worth less than they had originally though. For once in my life I'm on the side of the big banks.
 
OKCRadioGuy said:
I hope the crooks go down in flames. The reason why the FCC thinks of us as the enemy these days is because of companies like CC. To hell with them via the expressway to hell. Maybe they'll bleed enough red that they'll have a nice firesale where the nice people in the local community can buy the channels for what their REALLY worth and run them like a business instead of the flying corporate circus the San Antonio carpetbaggers have been running all these years.

Since when can a person SUE a bank because they won't give them the money they promised? I bet a individual could have the signature of the owner of the bank and still have a deal for a loan cancelled in the bank had even a thought that the property they were buying was worth less than they had originally though. For once in my life I'm on the side of the big banks.
Click to expand...

;D
 
OKCRadioGuy said:
Since when can a person SUE a bank because they won't give them the money they promised? I bet a individual could have the signature of the owner of the bank and still have a deal for a loan cancelled in the bank had even a thought that the property they were buying was worth less than they had originally though. For once in my life I'm on the side of the big banks.
Click to expand...

Amen Brother! CC has embarrassed itself and they know it. They got hasty and as a result they practically all but killed their own deal. I think this is the beginning of the end of CC.

Andy
 
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