Thursday, November 16th, 2006

Clear Channel Downsizes, Goes Private

From Paul Porter at Industry Ears comes the news that Clear Channel is going private for a $27 billion buyout from investors Bain Capital and Thomas H. Lee Partners.

Even more interesting is the announcement that they are selling off more than 400 radio stations.

Is this the beginning of a reversal in terrestrial monopoly radio? Has the logjam been broken?

UPDATE: Apparently Mass governor and potential Republican presidential candidate Mitt Romney is a principal in Bain Capital. Political speculation is running rampant.

posted by Jeff Chang @ 8:04 am | 3 Comments

3 Responses to “Clear Channel Downsizes, Goes Private”

the clutterer says:

November 16, 2006 at 9:49 am

I fear that this might have to do more with the decreasing returns of radio more than anything else.
Jeff says:

November 16, 2006 at 10:38 am

could be that old law of history: good things happen because of the wrong reasons.
LFager says:

November 17, 2006 at 1:24 am

Nobody get excited, these stations are all outside the top 100 market. They are very small stations in small markets… I can only imagine that none of the buyers will be people of color or women. This was truly a good ole boys sell. Most companies give buyers 5 months to prepare to bid… Clear Channel gave buyers 3 weeks.

Lisa Fager
Industry Ears

Feed Me!

Revolutions

DJ Nu-Mark :: Take Me With You
DJ Nu-Mark remixes the diaspora…party ensues!
El General + Various Artists :: Mish B3eed : Khalas Mixtape V. 1
The crew at Enough Gaddafi bring the most important mixtape of 2011–the street songs that launched the Tunisian & Egyptian Revolutions…
J. Period + Black Thought + John Legend :: Wake Up! Radio mixtape
Remixing the classic LP w/towering contributions from Rakim, Q-Tip + Mayda Del Valle
Lyrics Born :: As U Were
Bright production + winning rhymes in LB’s most accessible set ever
Model Minority :: The Model Minority Report
The SoCal Asian American rap scene that produced FM keeps surprising…
Mogwai :: Hardcore Won't Die But You Will
Dare we call it majestic?
Taura Love Presents :: Picki People Volume One
From LA via Paris with T-Love, the global post-Dilla generation goes for theirs…

Word

Cormac McCarthy :: Blood Meridian
Read this now before Hollywood f*#ks it up.
Dave Tompkins :: How To Wreck A Nice Beach
Book of the decade, nuff said.
Joe Flood :: The Fires
The definitive account of why the Bronx burned
Mark Fischer :: Capitalist Realism
K-Punk’s philosophical manifesto reads like his blog, snappy and compelling. Just replace pop music with post-post-Marxism. Pair with Josh Clover’s 1989 for the full hundred.
Nell Irvin Painter :: The History of White People
Well worth a Glenn Beck rant…and everyone’s scholarly attention
Robin D.G. Kelley :: Thelonious Monk : The Life And Times Of An American Original
Monk as he was meant to be written
Tim Wise :: Colorblind
Wise’s call for a color-conscious agenda in an era of “post-racial” politics is timely
Victor Lavalle :: Big Machine
Victor Lavalle does it again!