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Oprah set to buy CC stations...
- Thread starter jock_itch
- Start date
jock_itch said:
This is a tad early for an April Fool's joke; Clear has been sold to a private equity group and awaiting closing soon, bar further changes in the itnerest rates.
The only stations that Clear has sold separate from the privitization move are in markets below the top 100 or ones that can not be part of the bigger deal as they were grandfathered and now have to be sold to come into compliance.
Why assume these would be Chicago stations? CC has to sell some prime broadcast real estate, despite the soft market created by the current sub-prime capital crunch. Those who can swing the financing may get some deals, and I suspect Oprah gets her calls returned when she calls her bankers.
Besides the 37 small markets in the "Good Radio" deal (which now appears officially dead), Clear Channel had to spin off a number of stations in larger markets because the privatization would result in a significant change in the control of that company. This resulted in a loss of grandfather status in a number of clusters that were assembled under the former contour-overlap rules, but were now over-size under the Arbitron market method of identifying the relevant "market" to set ownership limits. These stations were spun off into the "Aloha Trust."
The "Aloha Trust" has some clusters from fair sized markets--including the Cleveland FM's, and, as I remember, one of the larger Florida markets-Miami?. One story was that these stations would be spun back into the newly privatized CC once the FCC changed ownership rules, (Aloha, of course, means both "goodbye" and "hello"); but it does not appear that there will be any significant changes in the multiple ownership part of the rules. So these larger market stations remain in play.
And then there are the CC television stations--also spun off because privatization kill grandfathered cross-ownership in markets like Cincinnati. Rumor is that the deal for the sale of these stations may fall apart.
Maybe "O" is looking at a few TV stations?
Besides the 37 small markets in the "Good Radio" deal (which now appears officially dead), Clear Channel had to spin off a number of stations in larger markets because the privatization would result in a significant change in the control of that company. This resulted in a loss of grandfather status in a number of clusters that were assembled under the former contour-overlap rules, but were now over-size under the Arbitron market method of identifying the relevant "market" to set ownership limits. These stations were spun off into the "Aloha Trust."
The "Aloha Trust" has some clusters from fair sized markets--including the Cleveland FM's, and, as I remember, one of the larger Florida markets-Miami?. One story was that these stations would be spun back into the newly privatized CC once the FCC changed ownership rules, (Aloha, of course, means both "goodbye" and "hello"); but it does not appear that there will be any significant changes in the multiple ownership part of the rules. So these larger market stations remain in play.
And then there are the CC television stations--also spun off because privatization kill grandfathered cross-ownership in markets like Cincinnati. Rumor is that the deal for the sale of these stations may fall apart.
Maybe "O" is looking at a few TV stations?
i think it would be great for radio she doesnt need the money .....hopefully it would stop this voicetracking crap and make radio what it is suppossed to be local creative entertaining & still generate a good profit...has anybody listened to her satellite channel/lineup? also am i asking santa for something that he cant deliver????????
The only station that might get sold is WVON on 1690. It's currently run under an LMA. I forgot how long the LMA is in effect, but Midway Broadcasting has the option to buy the station. But other than 1690, I don't see any of the other stations being sold, as they're making money for CC. But it would be nice if they had to divest some stations in Chicago.
I believe the LMA with WVON is a five year deal, I believe it started in September of 2006, so there should be a little
less than 4 years left. After that time WVON(Midway Broadcasting) has the option to buy the station outright.
less than 4 years left. After that time WVON(Midway Broadcasting) has the option to buy the station outright.
Just like to point out who is managing her current XM radio program: the legendary (and former CC Market Manager) John Gehron.
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