None of this is set in stone — “fluid” is the word I keep hearing — but an announcement could hit sometime between now and the start of American Idol. If it does, expect talk about how the revised agreement won’t result in a private Clear Channel until sometime this summer. Not only would there have to be a new shareholder vote, but there would also be a new stub equity process.
In addition, buyout firms Bain Capital and THL Capital would have to re-pitch the deal to any of their limited partners who are co-investing. Not a hard sell at $36 per share instead of $39.20, but it still takes time.