Clear Channel banks to fund buyout at $36-share-WSJ

NEW YORK, May 12 (Reuters) - The banks that had been trying to pull out of the funding for the $20 billion buyout of Clear Channel Communications (CCU.N: Quote, Profile, Research) have reached a settlement with the private equity firms that had sued them, the Wall Street Journal reported on Monday.

Under the terms of the deal, the banks will fund a takeover at a price of $36 a share, the newspaper said in its Web site.

(Reporting by Christian Plumb)