Report: Clear Channel In Talks To Restructure Debt

(Reuters) – Clear Channel Communications Inc, which operates radio stations and outdoor advertising space, has started approaching lenders about restructuring its debt load, the New York Post said, citing sources.

A prepackaged bankruptcy is one of the topics being debated, one source told the paper.

Another source told the paper that the talks were in an early stage.

Senior lenders might be interested in trading debt for assets, both sources told the paper, with one source saying that such talks have not entered a serious stage.

A Clear Channel spokeswoman declined to comment to the paper, while Reuters’ efforts to contact the company before business hours were unsuccessful.

Clear Channel was acquired last July in a $17.9 billion takeover by private equity funds Thomas H. Lee Partners [THL.UL] and Bain Capital. (Reporting by Ajay Kamalakaran in Bangalore; Editing by Lisa Von Ahn)