Clear Channel announcement in about an hour-source

NEW YORK, May 13 (Reuters) - An announcement that a settlement and revised deal has been reached in the $20 billion Clear Channel Communications Inc (CCU.N: Quote, Profile, Research) financing dispute is expected in about an hour, a source familiar with the situation said on Tuesday.

The parties in the dispute over financing the buyout reached an agreement in principle earlier on Tuesday on settling the litigation surrounding the case and striking a new deal at a price of $36 a share, a separate source familiar with the situation said earlier on Tuesday -- lower than the $39.20 agreed last year.

The separate source who told Reuters an announcement is expected in an hour also confirmed the figure of $36 a share. (Reporting by Megan Davies; Editing by Andre Grenon)