--(www.USEquityNews.com)-- 05/23/2008 - Broadcasting industry alert provided by U.S. Equity News. Clear Channel Communications, Inc. (NYSE: CCU) recently announced that the bank syndicate providing the debt financing with respect to the acquisition of Clear Channel, pursuant to the amended merger agreement with entities sponsored by Bain Capital Partners, LLC and Thomas H. Lee Partners, L.P., has now fully funded the debt financing related to the $17.9 billion merger. Under the terms of the amended merger agreement, Clear Channel shareholders will receive $36.00 in cash or stock for each share they own. The bank syndicate, consisting of Citigroup, Deutsche Bank, Morgan Stanley, Credit Suisse, Royal Bank of Scotland and Wachovia, had until recently to comply with a settlement agreement in connection with the lawsuits filed in March in the Supreme Court of the State of New York and the State Court in Bexar County, Texas.
Emmis Communications Corporation (NASDAQ: EMMS) announced recently that the Company's Board of Directors has revised its previously announced $50 million stock repurchase plan to allow for the repurchase of both Common Stock and Preferred Stock (EMMSP). The repurchase was originally authorized in August 2007. Transactions may occur from time to time, either on the open market or privately negotiated. Purchases are expected to be financed through cash flows from operations and borrowings under Emmis' existing credit facility. The stock repurchase is subject to prevailing market conditions and other considerations.
SIRIUS Satellite Radio (NASDAQ: SIRI) and Formula One Management have entered into an agreement that will make SIRIUS the exclusive North American radio broadcaster of all FORMULA 1 (F1) races, marking the U.S. radio premiere of the high-profile sport. SIRIUS' F1 schedule kicks off this weekend with live coverage of the Monaco Grand Prix in Monte Carlo (Sunday, May 25 at 8:00 am ET), one of the world's most prestigious and challenging motor racing events, exclusively on SIRIUS channel 125. Often referred to as the crown jewel of F1, the Monaco Grand Prix is one of the only street circuits in use. SIRIUS will broadcast the entire remainder of the 2008 calendar's races live nationwide on SIRIUS 125, including the first-ever F1 night race, being held in Singapore on September 28.
247MGI, Inc. (OTCBB: TOFS) ("247MGI") has rescheduled all shows for Smallcap Rapp(TM) this week for next week, due to complications with its streaming server. Smallcap Rapp(TM) will feature Robert W. Chance, CEO for National Automation Services, Inc. Tuesday May 27, 2008 at 1:15 PM EST, Steven Rash CEO for Power 3 Medical Products, Inc. Wednesday May 28, 2008 at 1:00 EST, Boyd Soussana CEO for The Estate Vault, Inc. Thursday May 29, 2008 at 1:00 PM EST.
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