Newspaper wrap-up: Sources say Clear Channel deal near collapse over loan term

MAJOR PAPERS:

The Wall Street Journal said the $19B privatization of Clear Channel Communications Inc (NYSE: CCU) was near collapse as the private-equity firms behind the deal and the banks financing it failed to resolve their differences over terms of the credit agreement, people familiar with the matter said.
Comcast Corporation (NASDAQ: CMCSA) and Time Warner Inc (NYSE: TWX) are in talks to fund a new nationwide wireless company that would be operated by Sprint Nextel Corporation (NYSE: S) and Clearwire Corporation (NASDAQ: CLWR), and use WiMax technology, reported the Wall Street Journal. Intel Corporation (NASDAQ: INTC) and Google Inc (NASDAQ: GOOG) may also help with funding.
The Wall Street Journal also reported federal regulators are handing out warnings to banks due to their exposure to development loans and commercial real-estate construction. Sources believe Corus Bankshares Incorporated (NASDAQ: CORS) is facing trouble in the near future due to increasing scrutiny by regulators and the fact that much of the fallout in the condo sector has yet to be felt by banks.
Some banks in the government-sponsored Federal Home Loan Banking system want to guarantee municipal infrastructure projects, the Financial Times reported, thus fulfilling the role traditionally taken by monoline insurance groups such as MBIA Inc(NYSE: MBI).

Tags: CCU, clear channel, clear channel commun..., ClearChannel, ClearChannelCommun..., clearwire, clearwire corp, ClearwireCorp, CLWR, CMCSA, CMCSK, Comcast, CORS, Corus, corus bankshares inc., CorusBanksharesInc., GOOG, Google, INTC, Intel, MBI, mbia, mbia inc, MbiaInc, mbiainc(mbi), S, Sprint, Sprint Nextel, SprintNextel, time warner, time warner (twx), TimeWarner, TimeWarner(twx), TWX

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