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Private equity
Clear Channel Suitors, Banks Reach a Deal
Submitted by Benton Foundation on May 14, 2008 - 7:30amClear Channel's suitors and the banks financing the privatization of the radio and outdoor-advertising company reached an agreement late Tuesday, allowing the troubled deal to go forward 18 months after it was originally struck.
'Newsday' sale eases Tribune debt - for now
Submitted by Benton Foundation on May 13, 2008 - 7:15amLast updated: May 13, 2008 - 1:59pm
Tribune Co.'s $650 million sale of Newsday, announced Monday, is an important step toward alleviating its debt burden -- for this year. To get favorable tax treatment, Tribune will retain a 3% stake in a joint venture to be formed containing Newsday, as well as several related assets, including Newsday.com, some regional magazines and the free New York City daily newspaper amNewYork.
Appeals Court Delays Hearing Tribune’s Waiver Challenge
Submitted by Benton Foundation on May 9, 2008 - 7:07amThe U.S. Court of Appeals for the D.C. Circuit decided to put off hearing Tribune's challenge of the Federal Communications Commission's decision to grant it waivers to complete the deal to sell the company to investor Sam Zell and Tribune employees.
Tax gains lift Tribune Co. to first-quarter profit
Submitted by Benton Foundation on May 9, 2008 - 6:57amTribune Co. reported a big first-quarter profit, thanks to a mammoth tax gain the Chicago media concern recorded in connection with the leveraged buyout by which it went private at the end of 2007.
Clear Channel suitors reject offer by banks
Submitted by Benton Foundation on April 23, 2008 - 7:14amThe latest skirmishes between the banks and potential buyers of Clear Channel are raising expectations that the lenders will have to come up with $22bn in debt financing for the buy-out.
Zell: Eroding Tribune Co. Revenue May Force Sell-Off Of Newspapers
Submitted by Benton Foundation on April 17, 2008 - 8:20pmChicago Tribune revenue is down significantly so far this year, and may force the Chicago media giant to sell off newspapers and other properties, Chairman and CEO Sam Zell said.
Clear Channel talks in trouble?
Submitted by Benton Foundation on March 25, 2008 - 8:37pmLast updated: March 26, 2008 - 8:28pm
According to an unnamed source, talks over the $20 billion leveraged buyout of U.S. radio operator Clear Channel Communications are in trouble, with the banks financing the deal unwilling to take a mark-to-market loss.
Newspapers’ New Owners Turn Grim
Submitted by Benton Foundation on March 24, 2008 - 9:34amLast updated: April 22, 2008 - 3:37pm
Sam Zell: "The news business is something worse than horrible. If that’s the future, we don't have much of a future."
Tribune to sell Newsday?
Submitted by Benton Foundation on March 21, 2008 - 7:35amLast updated: May 13, 2008 - 1:57pm
News Corp, Cablevision and The Daily News appear interested in purchasing the Tribune's Newsday.
As Deadline Nears, Confusion Clouds Clear Channel Buyout
Submitted by Benton Foundation on March 20, 2008 - 9:13amConfusion surrounded the buyout of Clear Channel Communications yesterday amid escalating tensions between the private-equity companies behind the deal and the banks that have agreed to finance it.
