Broken deal in mediation


There could be an out-of-court settlement coming in the dueling lawsuits over the busted sale of 187 radio stations from Clear Channel Communications to Frequency LLC, backed by American Securities Capital Partners, for 452 million bucks. Frequency sued Clear Channel in federal court and Clear Channel sued Frequency in Texas state court. The latest document filed in the federal court case states that "the parties have agreed to mediate their disputes in this and the related action…pending in the District Court of Bexar County, Texas." The joint filing by attorneys for Clear Channel and Frequency, which was "so ordered" by US District Judge P. Kevin Castel, extended various deadlines related to the case. Those deadlines could become moot if the mediation results in a settlement.