The wheels are coming off.
They are burning through cash at a record pace.
Their big markets are down 12% or more in revenue.
No prospect of breaking even by the end of the year.
Then how is it possible to pay your debt down by $2.5 billion?
You want what Bob Pittman is having.
If you’ve been thinking about subscribing and would like to access this story, let me tell you what you will get.
- How Clear Channel got their debt to under $20 billion for the first time since Lee & Bain acquired the company.
- And that’s turning in two lousy revenue quarters and tracking down for the rest of the year – how is it possible?
- Why now? The reason Clear Channel is under pressure to get that number under $20 billion even if they have to use this trick.
- Why Bressler refuses to break out radio revenue for analysts.
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Report news (tips, memos, etc.) under the full safety of my Witness Protection Program here. If I could keep my confidences safe when Clear Channel tried to sue me 14 years ago, I can keep you safe now.
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