Thursday, November 16, 2006

Clear Channel radio sold for $18.7 billion

They'll also be selling over 400 of their smaller market radio stations and their 42 tv stations, also in smaller markets. A shrinking industry. A subsequent Reuters story expands on consequences of the sale.
  • I wish those concerned well, and of course I'm a big radio fan. But, the executives speculating in the Reuters article sound as if they never worked at a radio station. (I did so for 20 years). There are plenty of stations not currently connected to Clear Channel showing the advertising market is just as difficult and the bottom line still observed.

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