When The Wall Street Journal reported yesterday that Clear Channel's privatization deal was near collapse it sent shock waves throughout the radio industry.
This ill-conceived way for the Mays family to have one more payday has been teetering on the brink for well over a year.
I say teetering because the economy and the radio industry has been declining since the ink dried on the agreement.
The $19.5 billion price was wrong from the start. You'll remember Clear Channel tried to do the deal at a lesser price than $39 a share, but was forced to up it.
All during the tough times, Clear Channel tried to keep Thomas&hellip