40 Years In The Desert: Credit Crunch May Kill Private Sale of Clear Channel's TV Unit

25 February 2008

Credit Crunch May Kill Private Sale of Clear Channel's TV Unit

Wachovia is suing their own client, Providence Equity Partners, to get out of funding the buyout.

The buyout deal has been restructured, and Wachovia is now saying that it is no longer required to provide the capital.

This is because the credit crunch has made reselling this debt much more difficult, and hence more uncertain.

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Matthew Saroff, Mechanical Engineer, Owings Mills, Maryland, US

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A member of the Democratic wing of the Democratic party, and a fan of Bernie who thinks Neoliberal (DLC/New Dem) trickle down conomics sucks.

Mechanical Engineer with a background in defense, electronics packaging, medical & food equipment, transportation, and manufacturing.

In my spare time (Hah!), I am the developer of the Firefox addon, bbCode for Web Extensions (bbCodeWebEx).

I have two cats, a black cat, and a gray and white long hair cat, who keep me on my toes. (Because he keeps attacking my feet)

I am a Jew and a Zionist, who is married to a woman with exquisitely bad taste in men, and I have two remarkable children with her.

What is 40 Years in the Desert?

This blog is a place to put my stream of consciousness thoughts about life, politics, technology, and cats.

It's a posting ground for my more-or-less annual personal newsletter, 40 Years in the Desert.(PDF's available at link)

I find that if I wait until year's end I miss stuff from earlier in the year.

40 Years is put out the old fashioned way, it's printed out on ledger sized paper with 4 pages and mailed to people, total circulation of about 100.

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40 Years In The Desert

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25 February 2008

Credit Crunch May Kill Private Sale of Clear Channel's TV Unit

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