peHUB First Read

* The Clear Channel trial is set to begin this morning, but everyone expects a settlement instead of opening arguments. Steve Davidoff sketches out what such an agreement may look like. I still want to know if shareholders will bite at the price cut, or if they’ll take up the “But we had a deal” mantle.

* Anthony Ha defends the Sprint/Clearwire WiMax deal. Or at least defends its potential.

* Q&A on Norman Pearlstine’s move from Carlyle Group to Bloomberg. Well, not with Norman, but with Bloomberg editor Matt Winkler.

* Hank Greenberg says that AIG is “in crisis.”

* Could a Clear Channel closure mean a return of the arbs?

* Michael Jackson’s Neverland Ranch swaps sponsors.

* Big bank merger in Australia.

* Andrew Parker doesn’t like the Freemium model.