Clear Channel Communications Inc. kicked off the week's biggest stories, following news that the radio and media company's stalled buyout was back on track.

A lot has changed in the year and a half since radio industry leader Clear Channel Communications Inc. struck a deal to go private. Credit markets seized up, radio advertising continued to falter and another radio buyout deal failed.

Stocks finished higher Wednesday, despite profit-taking in the last half-hour of trading, as Wall Street cheered what appeared to be a tame inflation reading.

Stocks opened higher Wednesday after a better-than-expected reading on inflation.

A New York State judge adjourned the trial over financing of the Clear Channel Communications Inc <CCU.N> buyout on Wednesday, giving the banks involved 14 days to fund the new, lower-priced deal.

NEW YORK (Reuters) - A New York State judge adjourned the trial over financing of the Clear Channel Communications Inc <CCU.N> buyout on Wednesday, giving the banks involved 14 days to fund the new, lower-priced deal.

Clear Channel Communications Inc. has settled a legal dispute with the lenders funding its private equity buyout, clearing the way for the radio and outdoor advertising company to finally seal the deal nearly two years after it was first announced.

Stocks opened higher Wednesday after a better-than-expected reading on inflation.

Clear Channel Communications has resolved a legal dispute with its lenders, clearing the way for its prospective buyers to take the radio and outdoor advertising company private. 

A deal has been reached to fund the purchase of Clear Channel Communications for $36 a share, according to people familiar with the settlement.

Shares of Clear Channel Communications Inc. are surging on media reports that a revised deal has been reached to finance the radio and media company's buyout by Thomas H. Lee Partners and Bain Capital.

Talks are underway to settle a dispute over financing the $20 billion leveraged buyout of U.S. radio operator Clear Channel Communications Inc <CCU.N>, the company said in a statement on Monday.

By Megan Davies and Leslie Gevirtz

Among the stock activity stories for Monday, May 12, from AP Financial News:

Shares of Clear Channel Communications surged on media reports that a revised deal has been reached to finance the radio and media company's buyout by Thomas H. Lee Partners and Bain Capital.