Goldman Sachs Group Inc. NYSE:GS Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Goldman Sachs Group Inc. NYSE:GS

GS 792.91

+0.3%

Nov 5 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Don Green	10/25/2006 7:05:10 PM
	of 411

Clear Channel Considers Sale, Hires Goldman Sachs By Anthony Palazzo Oct. 25 (Bloomberg) -- Clear Channel Communications Inc., the largest U.S. radio broadcaster, is considering a possible sale of the company and hired Goldman, Sachs & Co. as an adviser. The shares jumped 9.7 percent. The board is evaluating alternatives to increase the share price and can't assure that a transaction will occur, San Antonio-based Clear Channel said today in a statement. The hiring of Goldman Sachs brings the Mays family, which controls Clear Channel, closer to a possible leveraged buyout. Chief Executive Officer Mark Mays has spun off the company's live entertainment unit, Live Nation Inc., and sold shares of its outdoor advertising unit, Clear Channel Outdoor Holdings Inc., in an IPO. The stock has been hurt by slow growth in the radio industry. Clear Channel spokeswoman Lisa Dollinger declined to comment beyond the release. The company said in its statement that it won't comment any more about the matter unless a specific transaction is approved by the board. Shares of Clear Channel gained $3.15 to $35.50 in extended trading. They rose 15 cents to $32.50 at 4 p.m. in New York Stock Exchange composite trading.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next