With Clear Channel’s much publicised sell-off in the United States to private equity firms there has been speculation that APN may seize the opportunity to buy American firm’s half of the Australasian business to lift their own stake to 100%.

Despite hinting back in February that the drawn out US sale process could provide his organisation with the buy-out opportunity, APN Chief Executive, Brendan Hopkins told the Australian Financial Review, that such speculation was wrong, “There are no talks. We are both happy shareholders.”

Clear Channel and APN jointly own the ARN network along with the 162 station The Radio Network in New Zealand.

Meanwhile the $US19.5 billion ($20.7 billion) sale of Clear Channel has hit another snag in the US with both buyer and seller suing the six banks who are financing the deal for trying to jack up fees and making the deal too expensive.