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WHAT'S WITH ALL THE NEGATIVE TALK ABOUT CLEAR CHANNEL RADIO?

A

alex4490

Guest
It's pretty sad........I just don't know what is with all the trash talk about Clear Channel. Are they really struggling financially by making some cut-offs/firings in the major markets? I don't understand

-Alex
 
alex4490 said:
It's pretty sad........I just don't know what is with all the trash talk about Clear Channel. Are they really struggling financially by making some cut-offs/firings in the major markets? I don't understand

-Alex
Click to expand...

Not so much that they're struggling, but rather trimming down the expense sheet to show a much more attractive forward CF for their private equity investors, ain't it?

Anybody have a national CC EOY bodycount? A hundred? 200?
 
ratingsgeek nails it! Don't know the count right now but it probably won't slow down anytime soon. I think we are seeing a text book case study developing right before our eyes stemming from this period of deregulation. It will touch all facets of business. If it brings any solace, our grand children will probably study this era as what not to do.

The howling of the wolves moves closer to the door. Stoke the fire children and gather 'round for a story......
 
What planet are you on? CC has ruined the industry for both employee opportunuties, small ownership, programming and the communities they "serve". Their business model worked for a few years, now it is collapsing upon itself. Their investors lost their shirt, and the stock is near worthless, trading around $2.50. Whole cities left without a single person on duty to operate or contact in case of an emergency. Cookie cutter programming in every city, and cookie cutter voice tracking, EVEN IN MORNING DRIVE!

Why don't people like Clear Channel? Do you own a newspaper or something?
 
Not Quite Worthless...

CC (and others) damaged radio as an industry, but their stock is trading at $35.95. Last I heard, the buyout offer was around $39.00 per share.

Some investors got in well above that number, and will lose money.

I don't disagree with much of the rest of amfmsw's post.
 
$35.95 now. $100 in 2000.

They went into debt buying stations and often paying too much for them. Now they have to sell stations, often at a loss. Now they are refinancing. Employees get screwed. Individual investors get screwed (big investment bankers, fund investors, and outfits like Bain don't worry about you and your life savings; you are marks in their game).
 
Gentlemen,

You are absolutely correct. I erred in my statement. My apologies.

It's Citadel that's trading in the $2.50 range. CC only lost 65% of it's investor's money!
 
amfmsw said:
Gentlemen,

You are absolutely correct. I erred in my statement. My apologies.

It's Citadel that's trading in the $2.50 range. CC only lost 65% of it's investor's money!
Click to expand...

In the same period, Yahoo lost 80% of its value. And CCU, at about $42 a share (including the Live Nation distribution) has lost about 50%. In fact, the entire NASDAQ average over the same period is off by about 50%.

The stock market has as much to do with the economy, feelings about the future and perceptions as it does with the actual operations of the companies whose shares trade on the markets.
 
David, again, one of the rare occasions I agree with you. But 65% is a huge loss, so is 80!
 
CC AND Cumulas (with the help the FCC gave them through deregulation) have destroyed the radio industry.

On the other hand, who can blaim them? The FCC told the industry that you can own as many stations as you want in every market, eliminate 90% of the programming, air, news and engineering staffs, automate and combine all the air work, and then combo sell the ads at cut rate prices.

Is it any wonder CC and Cumulas went and then bought as many stations as they could in everything except one horse towns, and then killed all localism?

A few talented and lucky souls (Imus, john boy&billiy, stern, love sponge, etc.) were able to do well through syndication, but with the demise of small and medium markets training grounds, and then major market employeers to move on too, where is the future for radio talent?
It is gone. Talent is rapidly disapeering, and in 20 years I doubt you will even find a single live station as this trend exists.

Thanks FCC..that really is protecting the public interest.

I am happy to see radio industry stocks tanking.....I guess what comes around does go around.
 
ruger22com said:
CC AND Cumulas (with the help the FCC gave them through deregulation) have destroyed the radio industry.

On the other hand, who can blaim them? The FCC told the industry that you can own as many stations as you want in every market, eliminate 90% of the programming, air, news and engineering staffs, automate and combine all the air work, and then combo sell the ads at cut rate prices.
Click to expand...

Oh, you can blame Clear Channel. The FCC--in enacting the Telecommunications Act of 1996--only did what Congress made the law.

But that law was created by Lowry Mays and his company, Clear Channel--in cahoots with Tom Hicks and his company, Capstar. (Upon folding Capstar--renamed AM/FM--into Clear Channel, Hicks became CC's largest stockholder). Hicks and Mays had determined years before that there was a killing to be made by changing the law. That the killing would also kill the radio industry was incidental.

It's the Scorched Earth method of doing business. Ever see "Wall Street?" Greed is good--from the perspective of the one getting all the money.

It's also what John Edwards (and no one else) is talking about: government by-and-for corporations... where laws are bought & sold. If you like what Clear Channel has done and want more of it, either Mitt or Hillary will gladly comply.
 
DavidEduardo said:
In the same period, Yahoo lost 80% of its value. And CCU, at about $42 a share (including the Live Nation distribution) has lost about 50%. In fact, the entire NASDAQ average over the same period is off by about 50%.
Click to expand...

That's the great thing about investment comparisons, there's always someone doing worse. Yeah, look at Enron. Look at Countrywide. I feel so much better now about my Clear Channel investment. :'(
 
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