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As Clear Channel Communications Inc.'s $785 million takeout of The Ackerley Group Inc. threatens to enter its eighth month in a review by the Federal Communications Commission, the end could finally be near.
Ackerley Chief Financial Officer Kevin Hylton said, "Part of what we've tried to gauge is whether [the recommendation] was moving from the lower levels of the organization up to the commissioners, and we think it is now at that stage."
And that leads "us to think that there is hope that the deal could get done before the quarter ends," Hylton commented.
Hylton said he was cautious, however, because "we've had a number of other occasions where we thought they were right at the finish line and obviously didn't get there."
But, Hylton said, "We are hopeful, though, that a final ruling is in the category of at least the next week or two." Then the companies will be able...