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NEWS ABOUT: Clear Channel

24/7 Online Artist Channels Point to Radio's Future

Eagles, Christina Aguilera, Weezer to be first 'DJs'

(Newser) - Musicians want to connect with fans, and radio needs to survive in the Web 2.0 era: Enter artist personal experience (a.p.e.) radio. Clear Channel launches the 24/7 online channels, featuring artists’ personal radio shows, next month. “We feel that the old model of trying to... More »

Limbaugh Signs $400M Deal

He renews Clear Channel contract for 8 years

(Newser) - Rush Limbaugh has signed an eight-year contract renewing his syndication with Clear Channel for more than $400 million. This makes for the second-most-lucrative deal in radio history, ranking only behind Howard Stern's $500 million deal with Sirius in 2004, the Washington Post reports. "I'm having more fun than a... More »

Zell Turns to Radio Talent to Shake Up Newspapers

Tribune chief hiring radio veterans to help company

(Newser) - New publishing mogul Sam Zell is recruiting colorful veterans from the radio industry in a bid to help save his struggling Tribune Company, the Wall Street Journal reports. Zell is hoping the imports will spark innovation at the company, whose debt has swelled to $12.8 billion amid declining newspaper... More »

LA Billboards Off the Charts

Times columnist blasts industry's 'well-lawyered hissy-fit' against city count

(Newser) - Billboards are out of control in the City of Angels, Pat Morrison writes in the Los Angeles Times, and an industry with almost no accountability is again fighting city efforts at regulation. Giants Clear Channel and CBS Outdoor are throwing a "well-lawyered hissy-fit" against an effort to make the... More »

Clear Channel, Buyers Sue Banks Over Soured Deal

Equity firms claim lenders backtracked on financing takeover of broadcast giant

(Newser) - The two private-equity firms set to buy Clear Channel sued the group of banks they had engaged to fund the deal, the Wall Street Journal reports. Joined by Clear Channel, Bain Capital and Thomas H. Lee Partners accused the consortium—including Citigroup, Deutsche Bank, and Wachovia—of breaching contract by... More »

Stocks Fall on Recession Fears

Citigroup's big drop keys bad day for financials

(Newser) - Stocks fell today amid a new wave of recession concerns, Bloomberg reports. A big drop by Citigroup led financials to their worst plunge in almost two weeks, and oil prices jumped back up after inventory showed supply unchanged from last week. The Dow ended down 109.74 to 12,422.... More »

$19B Buyout of Clear Channel Nearly Dead

Credit woes have sale of radio giant to private firms crumbling

(Newser) - A $19 billion bid to privatize Clear Channel appears likely to fall through as buyers and financiers bicker—with credit-crunch-induced liquidity woes a major stumbling block, the Wall Street Journal reports. A credit agreement between private equity firms and the banks funding the move has become shaky. “No one... More »

Investors Worry Clear Channel Sale Is Off the Air

Credit worries and a slumping stock price have Wall Street worried the deal is done

(Newser) - Optimism on Wall Street about Clear Channel's $19 billion equity buyout is fading and its share price is spiraling lower as the deal, more than a year in the making, appears to be unraveling—done in by regulatory issues, credit worries, and deteriorating industry conditions, the Wall Street Journal reports.... More »

Clear Channel Board Takes Private Equity Bait

(Newser) - After months of stops and starts, Clear Channel's board today gave the green light to a $19.5 billion buyout offer. The communications giant bit after Thomas H. Lee Partners and Bain Capital, which have been bidding since November, gained the backing of two large shareholders. The successful offer was... More »

Radio Replaces Commercials With Sponsors

Dallas station moves to keep up with the iPod generation

(Newser) - In a throwback to the days of Texaco Star Theater and the Colgate Comedy Hour, a Clear Channel radio station has ditched spot ads in favor of hourly corporate sponsors. In an effort to compete with uninterrupted satellite radio and mp3 players, DJs on KZPS-FM in Dallas will pepper their... More »

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