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Report: Clear Channel Deal Short-Circuits

Stock quotes in this article: CCU , COMS , C , RBS , WB , CS , DB , MS  

Shares of Clear Channel (CCU Quote) plunged more than 20% in late trading Tuesday following a report that a deal to take the company private was unraveling.

The Wall Street Journal said the $19 billion deal between San Antonio-based Clear Channel and private-equity firms Bain Capital Partners and Thomas H. Lee was "near collapse" because of a dispute with banks over terms of the credit pact to finance the acquisition. The story cited unnamed sources close to the matter.

Clear Channel, which slid 5.5% during Tuesday's regular session, was falling 20.5% to $25.90 in after-market trading. ...

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