Clear Channel Communications (NYSE:CCU) may find its deal with private equity firms Thomas H. Lee Partners and Bain Capital Partners in danger after reports surfaced today that Fidelity Invesments may oppose the merger. A person familiar with the situation said that Clear Channel's largest shareholder believes that the $37.60 takeover offer is too low and that the mutual fund giant would be seeking a higher price. Fred Moran, an analyst at Stanford Group, said that "to feel comfortable supporting the buyout, the shareholders are looking for a sweetener, but whether Bain and Lee will consider doing so is a real question". According to a regulatory filing, the company needs a 2/3 shareholder approval in order for the deal to go through. Moreover, if a higher price is demanded, it could put the entire deal in jeopardy. This is definitely a stock to keep an eye on as the deal draws closer.

Clear Channel's principal activities are carried out through three business segments: Radio Broadcasting, International Outdoor Advertising and Americas Outdoor Advertising. As of Dec 2005, the Group owned 1,182 domestic radio stations and owned a national radio network. In addition, the Group held equity interests in various domestic and international radio broadcasting companies. Outdoor advertising comprises an inventory of both domestic and international display faces. As of December 31, 2005, they owned and operated 164,634 Americas Outdoor Advertising and 710,638 International Outdoor Advertising. They also own or program 41 television stations, a media representation firm, in the Internet industry. On December 21, 2005, the Group Spun-off their live entertainment segment and sports representation business.

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Workstream Inc. (NDAQ:WSTM) shares moved up $0.09, or 8.18%, to $1.19 today after CEO Michael Mullarkey disclosed a 25,000 share purchase at $1.12 per share in a form 4 filing with the SEC, bringing his overall stake to over 4.3 million shares. The web-based software provider announced earlier this month that it would remain listed on the Nasdaq after the stock dropped below $1 for over 30 consecutive days - which violates Nasdaq listing requirements of a $1 or greater share price. Currently the company is trading below enterprise value and is slowly making its way back to profitability; however, the company does have $14.11m in debt with only $5.53m in cash. The CEO's 25k share purchase illustrates confidence in the company, but whether or not a successful turnaround can be orchestrated remains to be seen. Regardless, this is a great stock to keep on the radar over the next year.

Workstream Inc.'s s principal activity is to provide a range of employment services and web-based software services for Human Capital Management. The Group operates through two segments: Enterprise Workforce Services and Career Transition Services. Enterprise Workforce Services include recruiting systems, recruitment services, applicant sourcing and exchange and employee portal, recruitment research, online exchange, and employee management and retention services. Career Transition Services include career marketing and outplacement services. The operations are conducted mainly in Canada and the United States.

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Blair Corporation (AMEX:BL) shares moved up $1.70, or 4.71%, to $37.80 after 8.1% holder Golden Gate Capital delivered a preliminary acquisition proposal to acquire all of the outstanding shares of Blair $37.50 per share in cash. Blair's chairman, Craig Johnson, said, "Since receiving the letter we have been in discussions with this group. Although it is premature to comment further, I do want to emphasize that we will continue to act in the best interest of the company and its stakeholders." Currently, the company is trading above enterprise value with $4.22 per share in cash and no debt. Given these favorable buyout conditions and the fact that the company's shares are down 12% so far this year (even after today's move), shareholders may demand a higher premium. This sentiment was also clearly conveyed today as shares are currently trading $0.30 above the buyout offer's price. Regardless, this is definitely a stock to watch as this situation unfolds.

Blair Corporation's principal activity is to market fashion apparel for men and women, as well as home furnishings, primarily through mail and the Internet. Catalogs and letters depicting the current styles of women and men's wear and home products are mailed directly to existing and prospective customers in the United States. The apparel line consists of coordinates, dresses, tops, pants, skirts, lingerie, sportswear, suits and shoes for women and suits, shirts, outerwear and active wear for men. Home products include linen, furniture, bath accessories, kitchenware, gifts and personal care items. Popular brands include the Crossing Pointe line and the Jane Seymour Signature Collection. The Group also operates three retail stores, two in Pennsylvania and one in Delaware. The Group markets products manufactured by domestic, as well as international suppliers that are sourced through international trade offices located in Singapore, Hong Kong, Taiwan, India, Korea and China.

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