Boston - A Texas judge has ordered several banks to follow through with funding the $19.5 billion acquisition of radio network giant Clear Channel Communications (NYSE: CCU) by Bain Capital and Thomas H. Lee Partners, the Associated Press reported. The two private equity firms filed lawsuits on Wednesday against the group of banks, claiming that they were reneging on their agreements to provide long-term financing for the deal.

The lenders include Citigroup Inc., Morgan Stanley, Credit Suisse Group, The Royal Bank of Scotland, Deutsche Bank AG and Wachovia Corp., all of which "signed commitments when the deal was inked 18 months ago saying they would bear all the risk in changes to the debt market," according to the AP report.

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