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Clear Channel Communications, Tribune settle lawsuits over recent hires Tribune made from radio giant’s ranks.

In an interview with The New York Times Magazine, the talk show radio host said he would receive a $100 million signing bonus and about $38 million a year for eight years under the new contract.

Newport Television laid off 7.5% of its 2,161 employees, citing a weak economy and an initial strategy to trim staff after it acquired 56 stations from Clear Channel Television earlier this year.

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The proposed $19.5 billion buyout of radio station operator Clear Channel Communications Inc. is reportedly near collapse because the private equity firms leading the deal are having trouble nailing down a financing agreement with banks.

Clear Channel Communications said it completed the sale of its television group to Newport Television, a holding company for Providence Equity Partners for $1.1 billion.

The agreement for 56 TV stations is about $200 million less than the terms of the original agreement reached last April.