* * economic woes in the best of places --- WSJ Romney's buy out of ClearChannel in Peril due to Economy * *Submitted by MediatorMPA on Wed, 01/30/2008 - 01:36
As you all may know, Romney's Bain Capital has been involved in a Clearchannel buyout...first revealed in Oct. 07.
Romney co-founded Bain and still has mega-stock in company. I do have links if anyone want proof.
Romney Bain/Clearchannel/Premier radio (part of CC) syndicates Limbaugh, Drudge, Beck...and more.
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Now...read below HOT from WSJ....
Romney's Clearchannel buyout is in peril due to economy...
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Clear Channel Investors Fret About Buyout
By Sarah McBride and Matthew Karnitschnig
The sound of silence is awfully hard to interpret.
But that is exactly what Clear Channel Communications Inc. investors were doing yesterday, and their interpretation was that the $19 billion buyout plan for the company was in peril. Combined with an already jittery market, the new worries sent the company's stock down 7.2%. Over the past two days, the value of the country's largest radio broadcaster has fallen by $2.3 billion.
Neither Clear Channel, nor its two buyers -- Thomas H. Lee Partners and Bain Capital -- were commenting yesterday about the transaction, which was first inked in November 2006.