The New York Times, also citing unidentified people briefed on the negotiations, said in Wednesday's edition that Clear Channel and its private equity buyers may go to court to force the banks to complete the buyout.
The suit, filed in High Court in London, also names as defendants Alex Marunchak, who was editor of the News of the World's Irish edition until 2006, as well as private investigators he alleged were hired to conduct the email interception, Jonathan Rees and Phillip Smith.