The Clear Channel-CBS Swap

Their employees may have received assorted pink slips on the run up to the holiday season, but Christmas came early to Clear Channel and CBS who announced a swap of stations yesterday.

CBS gets two FMs that the Department of Justice is forcing Clear Channel to sell (Spanish KLOL and AC KHMX in Houston).

Clear Channel gets KBKS, Seattle, WQSR, Baltimore, KXJM/KLTH, Portland, OR and KQJK, Sacramento.

The deal must be approved by the FCC and DOJ -- no problem there and no cash changed hands.

I repeat, no cash was involved so the tax benefits were there for both groups.

This is about the best you're going to&hellip