It has been my belief that the end game for Clear Channel (and eventually the other lesser consolidated radio groups) is to run phantom radio stations.
Lee Capital Partners and Bain Media overpaid for the once mighty radio and outdoor company fully expecting that they could initiate economies of scale and eventually turn the properties around for a nice profit.
Without a Plan B, Lee & Bain are initiating one of the largest and perhaps deadliest cutback plans that promises to reshape the radio industry.
Last week, the other shoe dropped.
While you were being fed happy talk about the gigantic size of the&hellip
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