Inside Music MediaJerry Del Colliano

Yesterday I shared with you information from a source close to Bob Pittman, his former partner in Double O Radio Bob Sherman and others in which Pittman revealed his eventual plan for Clear Channel.

It’s not owning 850+ stations, that’s for damn sure.

It’s about this crafty new business that these sources say Pittman is looking to roll out.

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1. The timeline – how long things continue the way they are and when this new disruptive plan kicks in.
2. If you’re asking why would anyone in their right mind buy a Clear Channel station that is not making money and actually costs money to run – well, as you’re about to learn Pittman has a brand new business for that.
3. The startling changes Pittman plans to make to Premium Choice. 
4. You know how Pittman is spending this year personally tending to a handful of major market stations that are key to his new business.  Now we know why. 
5. Pittman’s new Clear Channel has very low debt (compared to the current $20 billion) and generates tremendous free cash flow.  And you thought he lost his mojo.
6. Finally – the answer to why Clear Channel is doing record label deals, doing hourly airplay for artists, concerts that don’t make money, it just doesn’t make sense.  Until now.

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