If the Clear Channel Deal Doesn’t Close…

I'm wondering.

What kind of investment bankers fail to close on their acquisitions by year's end if they really want to buy? After all, they don't get their considerable fees unless they close.

Lee and Bain have been postponing their closing of Clear Channel ostensibly because the FCC hasn't approved the deal. Some skeptics might say that the FCC could have been accelerated for a deal this size. There certainly haven't been any major objections to Clear Channel going private.

So what's up?

I'm thinking that Lee and Bain may be noodling over whether they want to pay the half billion or so in penalty fees for&hellip