Sunday, October 29, 2006

Clear Channel: Who Leaked The News...?

Trader raises flags on Clear Channel options trade
Thu Oct 26, 2006 2:56 PM ET, By Doris Frankel, CHICAGO (Reuters) -

Options trading in Clear Channel Communications Inc. spiked in the days before the radio channel operator was reported to be in buyout talks with private equity firms, an options trader said Thursday.
Options trader Jon Najarian, co-founder of information Web site optionmonster.com, said his firm's computer model showed unusual Clear Channel call volume in the days running up to CNBC's report on Tuesday that the Mays family was becoming interested in a possible leveraged buyout.
The Mays family controls Clear Channel, which said on Wednesday that it was exploring alternatives to raise its share price, including a possible LBO.
Private equity groups Providence Equity Partners, Blackstone and KKR are in advanced talks to buy Clear Channel, a source familiar with the situation said on Wednesday...read more: here