Best rumor of 2007

Don’t tell anyone, but we hear that Sam Zell has had talks with Thomas H. Lee Partners and Bain Capital about the possibility of stepping in as a replacement buyer for Clear Channel. Will those talks go anywhere? We’ll have to wait and see. But wouldn’t it be amazing to see Randy Michaels back in charge of the radio empire he put together at CCU? Of course, Tribune Co. would have to do some divestitures, but there would be plenty of buying/swapping interest in the beachfront properties that would be involved.

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