Call me suspicious, but the Clear Channel buyout is supposed to close shortly and Randy Michaels keeps hiring more radio people for the television and newspaper business.
What's a person to believe?
There are a lot of funny things about the Lee and Bain $29 billion Clear Channel bailout starting with the price.
That price was determined over a year ago and since then the radio business has continued to tank on every level including local and national sales and share price. Still, these folks at Lee and Bain have not asked for the usual renegotiation to obtain a more reasonable price. What's up with that?
- Lenders Investigating iHeart, Their List of Concerns
- Entercom’s New Comp Plan, Revolt Brewing
- Townsquare Trouble, Masking Weak Points
- iHeart Ownership Dilemma, Critical Decision
- Entercom’s 3rd Quarter, Big Surprise
- Townsquare Revenue Reveal, “Adjusted” Sale Plan
- Cumulus Cost Cuts, Poor Performers Immune
- Entercom’s Next Cost Saving, “Efficiency” Program Directors
- Entercom Revenue Warning, Cuts Accelerate
- Attention Span Shocker, Radio ¼ Hour Implications