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Option update: Clear Channel volatility up following DOJ decision

Posted Feb 14th 2008 9:09AM by Paul FosterPaul Foster RSS Feed
Filed under: Clear Channel Commun (CCU), Options

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Clear Channel (NYSE: CCU) -

The U.S. Department of Justice announced it would require CCU to sell radio stations in four cities in order to win approval for its sale to Thomas H. Lee Partners and Bain Capital. Thomas H. Lee Partners and Bain Capital announced a $39.20 cash bid for CCU in early 2008.

CCU closed at $29.49 Wednesday.

CCU said: "The merger continues on track for a first quarter close." The Federal Communications Commission approved the deal in January.

CCU overall option implied volatility of 88 is above its 26-week average of 36 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Tags: ccu, clear channel, ClearChannel, Federal Communications Commission, FederalCommunicationsCommission, inthenews, option implied volatility, OptionImpliedVolatility, radio, The U.S. Department of Justice, TheU.s.DepartmentOfJustice

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