Inside Music MediaJerry Del Colliano

Bob Pittman’s TV company Barrington Broadcasting – the one he purchased through his venture capital firm Pilot Group was sold last week to Sinclair effectively cashing him out.

Pilot got out of Double O Radio, the small market radio group by taking an even bigger haircut.

Pittman, as the self-proclaimed inventor of MTV and the boy wonder of AOL, is no stranger to raising more capital if necessary.

The question is, will it be necessary.

Only Pittman knows for sure but he appears to be running Clear Channel’s radio stations deeper into debt these days.  The debt meter is at $20 billion and growing.

But people inside Clear Channel think that the sly fox Bob Pittman is up to something.

He cannot possibly survive more years of decline for the media and entertainment company even if he finds a way to kick more debt down the road.

Here’s how Pittman could direct assets right into the hands of his very own venture capital company.

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1. Why Clear Channel has not sold off any of its 800+ stations even though reducing the total could raise enough money to help pay down their $20 billion in debt.
2. Why Clear Channel doesn’t run ads on iHeartRadio, a Pandora lookalike that could raise some additional money to go towards debt.
3. Why Clear Channel is pricing their stations at such high multiples that no one in their right mind would buy them – at least right now.
4. What 3 main assets would Clear Channel likely consider selling as the debt situation gets worse.
5. Venture capital owners Lee & Bain have had Clear Channel long enough – here’s the startling way they get their money out now.

If you would like to see how Bob Pittman may be angling to buy some Clear Channel assets, click “read more” below.

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