Thursday, April 30, 2009
Clear Channel in Financial trouble says NYT
The New York Times says the largest owner of radio stations in the U.S. is having financial difficulties... and so are other radio companies... maybe CC will sell the former progressive talk version of KLSD (K-Liberal San Diego) to me in a fire sale. See article - click on title of this post. Knew CC was cutting costs again -- since it had another round of layoffs this week (see my post from April 28)
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1 comments:
It couldn't happen to a more deserving group of people. Clear Channel has been the death of local radio.
It was always my thought that the way they bought up every loose local station drove up the price to the point where you couldn't put together a business plan to justify buying a station.
I had thought that the only way to break up the CC conglomerate was re-regulation - force them to sell off 90% of their stations, which would bring the price back to reality.
But, it seems that the "invisible hand of the market" is taking care of it.
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