The Wall Street Journal says that CC’s still-public Clear Channel Outdoor group (“CCO”) is “considering either a debt sale or a swap in order to refinance a maturing note held by its parent.” That’s the now-private Clear Channel Media. The New York Post reported around Memorial Day that “two senior lenders opposed the company’s debt-swap proposal”, involving a proposed exchange of some of the $15 billion in debt they’re holding for $2.5 billion that’s owed to Clear Channel Outdoor. Today’s Journal story doesn’t carry many dollar figures – just the news that CC Outdoor is exploring a debt sale or swap to re-finance a maturing note of its parent. And that the amount of money “may be material.” Clear Channel’s new owners, Bain Capital and Thomas H. Lee Partners, steered it into accepting $22 billion in debt, with the buyout that finally closed in late July 2008.