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Bain Capital owns Clear Channel

M

MikeShannon914

Guest
With Romney and Bain Capital in the news lately, I'd completely forgotten that Bain Capital ended up with Clear Channel. I guess all that job creation and gains that Romney talks about don't include the bi-annual CC bloodbaths. But it's also curious that CC, through its Premiere Radio Networks, has all the heavy hitters in political talk radio under its belt. Coincidence? I won't speculate, but feel free to discuss.
 
Bain is not a radio group and they could care less about programming. What they do care about is making money, and the political talkers on their roster make tons of it. I would not be surprised to see them snag Rush/Hannity etc from Cumulus in the Dallas market as soon as they can (like they have done in countless other markets with their Rush Radio formats.)
 
I believe Bain Capital had Cumulus in it's portfolio before Clear Channel.

Either way Bain Capital and the subsidiaries all have a huge chunk of CC and Cumulus and others.
 
Which, in reality, actually means they own the absolute majority of broadcast radio in this country, eh? The DOJ should step in and not allow something like this IMHO. But then again, they've already proven we don't rate as an industry anyway...
 
Just for the record... Bain bought Clear Channel long after Romney left.
 
OKCRadioGuy said:
Which, in reality, actually means they own the absolute majority of broadcast radio in this country, eh? The DOJ should step in and not allow something like this IMHO. But then again, they've already proven we don't rate as an industry anyway...
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The DOJ is keeping an eye on things: Clear Channel was forced to sell two of its Houston FM's when Bain took over, due to Bain's investments in Cumulus and Univision, which also have stations in the market.
 
Bain and Thomas H. Lee Partners haven't owned Cumulus for several years now. They may still have a small amount of common non-voting stock, but they sold their voting shares shortly after the Clear Channel and Univision deals. Of the original "Cumulus Media Partners," only Blackstone and Cumulus Media are stakeholders in the new company.

And, yes, Bain bought Clear Channel long after Romney left. However, the business model for private equity has always been a slash and burn operation. Private equity calls most of the shots at Clear Channel and Cumulus, and Lowry Mays and John Dickey look like Santa Claus and the Easter Bunny compared to the private equity boys!
 
Bain will sell CC within 2-3 years its their usual formula. No more than 5 years, then they sell off the individual pieces (Premiere, RCS, Eller/CC Outdoor) then after all that is sold they do an IPO for exactly what they paid for it and make out like bandits.
 
Isn't the reason that there's a big push for Willard to release his tax records the belief that he's STILL receiving income from Bain as part of his Golden Parachute?
 
playmisty67 said:
Bain is not a radio group and they could care less about programming. What they do care about is making money, and the political talkers on their roster make tons of it. I would not be surprised to see them snag Rush/Hannity etc from Cumulus in the Dallas market as soon as they can (like they have done in countless other markets with their Rush Radio formats.)
Click to expand...

I'm surprised CC hasn't done that yet. A combo of 97.1 and 1190 with Beck, Rush, Hannity and Coast To Coast would do very well.
 
playmisty67 said:
It would gut WBAP, that is for sure. Anyone know when Rush's contract is up with BAP?
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Genius concept. Kill all the ad revenue on America's #1 politico talker during an election year. Brilliant....duh
 
? I don't get what you are saying...#1 political talker...Are you saying Rush will lose money or BAP is the #1 talker and will lose money? CC has flipped formats and added Rush in an election year. They did it in 2008 as a matter of fact. "Or" are you saying that it would be brilliant to snag him in an election year...
 
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