Turmoil in the credit markets has put deals on the backburner across the board – including a number of planned sales of broadcasters. 

Television broadcasting group Nexstar Broadcasting Group Inc. said earlier in August it was suspending talks with prospective buyers because of the difficult conditions in the financing markets. Another broadcaster, LIN TV Corp. had been exploring a sale but indicated on a recent earnings call that a sale may be delayed by the weakness in the debt markets, according to a research report by Bear Stearns analyst Victor Miller. A call to LIN was not immediately returned.

Despite the current turmoil, Bear Stearns thinks those two will be sold in 2008, and also thinks Cox Radio Inc.  should “more agressively repurchase shares or lever itself and go private”.

Clear Channel Communications Inc. is another stock that’s been beaten up a bit lately. Shareholders are due to vote on a $39.20 a share buyout in September while the stock is trading at $34.83. ”We believe … a renegotiation of the price seems unlikely given that that has occurred twice already,” wrote Bear Stearns, which has the company as a one of its three top broadcast stock picks.

Bear Stearns points out that while the Nasdaq has fallen 6 percent from recent peak levels, broadcast stocks have fallen 32 percent with leveraged and/or deal-tinged broadcast stocks particularly hurt.

Maybe the picture for TV won’t be in tune until the finance markets stop trembling?