As Clear Channel Communications Inc. and its private equity buyers settle with the lenders funding their acquisition deal, the company still hasn't confirmed whether it's near a deal with Pandora Media Inc. to add personalized radio to its network of Web sites. A Clear Channel spokesperson wouldn't say whether an announcement is imminent, although reports have surfaced indicating that a deal is in the works.

The outdoor advertising and radio giant is reportedly working toward introducing a new music player for its sites. Competitor CBS Broadcasting Inc. acquired social music site Last.fm Ltd. last year, and it recently added its stations to Last.fm's service. Separately, Clear Channel Monday announced a deal with meta-tagging service Gracenote Inc. to add song lyrics to its Web properties; it also recently launched erockster, an online programming and social networking initiative.

Pandora has taken in more than $20 million from Walden Venture Capital and Labrador Ventures in its eight-year history. The company has shut down its international sites due to the high cost of licensing fees. - Paul Bonanos

See May 12 press release regarding Gracenote partnership from MarketWire
See April 2 post on CBS and Last.fm from Tech Confidential

For more, see Billboard and Wired Listening Post