Clear Channel buyout deal near collapse: report

NEW YORK (Reuters) - A $19 billion buyout of radio station owner Clear Channel Communications is close to collapse, the Wall Street Journal reported on its Web site on Tuesday, citing people familiar with the matter.

The private equity firms behind the deals and banks set to finance it failed to agree on credit terms, the Journal reported. Thomas H. Lee and Bain Capital Partners reached a buyout deal with the company last year.

Clear Channel shares slid more than 19 percent in extended trading to $26.25.

(Reporting by Michele Gershberg)

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