CC Out Of Court Settlement?

Radio Info's Tom Taylor's turned off Nick-At-Nite since his earlier foray today into "The Naked City" Tee Vee land in describing today's showdown between Clear Channel Bain & Lee v the banks that got cold feet in the $19.5 bil CC TV spinoff.

They literally walked into a Manhattan courtroom and asked for a stay until tomorrow morning - and David Faber at CNBC says the various sides are discussing a possible resolution of the lawsuit filed by Bain Capital and Thomas H. Lee Partners. Those two private equity firms are suing the banks who they claim are holding up the deal. The other thing to watch today is the movement of Clear Channel stock ("CCU") - which turned around and began gaining ground after traders caught Faber's report. More on the Radio-Info.com website, which also has the story about Cumulus and Merrill Lynch canceling their deal to take Cumulus private, and the Emmis quarterly report.