Clear Channel Showing Signs Of Financial Distress

[austingeezer]

http://www.nypost.com/seven/05142009/business/signs_of_distress_169230.htm

 

[Radio3787]

;D Good.

They deserve it for laying off so many of their hard-working employees who have dedicated years into the company while leaving their over-paid execs unscathed. Maybe they'll ask Obama for a bailout.

 

[mmnassour]

Yea, right. Like that would happen........ ;D ;D ;D ;D ;D

 

[surelydissipatedbynow]

I remember a group meeting in Houston in 2000 where our new owners (Clear Channel) told us (5 stations) that no change was coming, and that they'd have CC stock up to $278 within a year. Layoffs started in 3 weeks (first round included a pregnant woman), CC Media Holdings stock yesterday closed at $1.05.

 

[smartestguyintheroom]

Clear Channel, as we know it now has already failed. Surely they are morally and ethically bankrupt. When it comes to restructuring their debt, they must receive cooperation from the banks. Citadel, and all the others may well receive cooperation from their bankers. Clear Channel, being the bullies and yes even cry babies, threatened to sue the banks if they backed out of the Bain/Lee deal. Everyone knew it was a bad deal, but Lowrey's kids threw a hissy fit and the banks backed down.

Now, they have to go to those banks and ask for refinancing and help. One must ponder what kind of hell those banks will put CC through now that the shoe is on the other foot. Let's hope there are some tight sphincters and sleepless nights in San Antonio.

All this is truly sad for those fine people who labor for CC every day. At every station, these folks live on needles and pins not knowing what lamebrained scheme the greedy Mays family and their ****** bag radio group head will cook up next. They only know that it will have an adverse effect on their lives and careers. Unfortunately, the government (remember the people own the licenses) has no system in place to deal with this kind of problem. Too bad Chairman Copps can't put someone like Jerry DelColliano in charge of the CC filing when it happens. They could raise some serious cash selling seats to his public beheading of the CC brass. I'd pay to see that!

 

[davideduardo]

Now, they have to go to those banks and ask for refinancing and help. One must ponder what kind of hell those banks will put CC through now that the shoe is on the other foot. Let's hope there are some tight sphincters and sleepless nights in San Antonio.

Actually, it's the banks that should be worrying... they have about the last claim on any money if CCU were to declare bankruptcy... so it's in their interest to adjust the loans, capital and principal to insure that they get something back. In a sense, the administration of Clear Channel has the banks in a position of having to agree with what they want, because a bankrutcy might leave them nothing.

 

[davideduardo]

Too bad Chairman Copps can't put someone like Jerry DelColliano in charge of the CC filing when it happens. They could raise some serious cash selling seats to his public beheading of the CC brass. I'd pay to see that!

The FCC does not name people to run radio stations, even in bankruptcy... the court does.

And putting the long-ago PD of a bad AM in Philadelphia would not know step one of running a large corporation like Clear, half of which is an outdoor company, with a significant part outside the US. It takes a bussinessman and experienced broadcaster and media person, not a whiny college professor, to run such a company.

 

[radioeye]

Now, they have to go to those banks and ask for refinancing and help. One must ponder what kind of hell those banks will put CC through now that the shoe is on the other foot. Let's hope there are some tight sphincters and sleepless nights in San Antonio.

Actually, it's the banks that should be worrying... they have about the last claim on any money if CCU were to declare bankruptcy... so it's in their interest to adjust the loans, capital and principal to insure that they get something back. In a sense, the administration of Clear Channel has the banks in a position of having to agree with what they want, because a bankrutcy might leave them nothing.

Unless CCU files for a plan that provides for the repayment of debt, the stakeholders (banks) will take over the company. Stockholders lose their equity. The banks hold all the cards.

 

[Leebo65]

I think I'll bring some of my homeade cookies to the ClearChannell Corp office

 

[CCP]

Think of how many lives CC (and others just like them) have hurt. How many sleepless nights they have caused? How many have suffered because of the stress they have caused? Even if CC blows up, which it seems to be heading in that direction, will anyone be held accountable? Nope. Now that they have sucked the life out of radio..they'll just move on. Like a tick leaving a dead dog.

 

[Radio3787]

I hope CC goes under and every station they own is auctioned off to local buyers leading to locally programmed radio, thousands of new job opportunites, and just all around better programming. You know, the way radio was before CC ruined it.