What is the main dispute of Clear Channel deal

The main dispute centers on the syndicate's demand that the private-equity firms replace a long-term financing package of at least six years in the original agreement with a short-term, three-year bridge-financing agreement. Such a change would constrain the ability of a highly leveraged company to deploy capital and operate its business. In addition, the financial firms asked that the buyers not use a revolving credit facility or Clear Channel's cash flow to pay down about $3.8 billion in short-term debt securities, according a person familiar with the talks.