Gambling News by Gambling Headquarters

Bids to potentially take Clear Channel Communications private are reported to be due either today or Monday, according to Reuters sources. The Financial Times and The Wall Street Journal have reported that the final bids could potentially lead to a deal being announced as soon as next week. Last month, amid speculation, Clear Channel announced it was "considering strategic alternatives to enhance shareholder value" and also retained Goldman, Sachs & Co. as its financial advisor for any such talks. In other Clear Channel news, the company has received a subpoena from the U.S. Attorney in New York about stations running ads for offshore and online gambling. CC revealed it had received the inquisition in a regulatory filing yesterday. The company received a similar subpoena in 2003 in Missouri, asking for details on ads ran for sports bookmakers and other gambling businesses. A CC spokeswoman told Bloomberg the company "is cooperating with the subpoena."