"Deceiving Deceivers" wrote in message
...
"David Eduardo" wrote in
:

Nearly every radio stock is off in that time period, most
by a higher percentage than Clear Channel.

Check them. Even Viacom is off more than CCU.

That is a fair point, assuming it is true. Checking...

Clear Channel: down 22%
Viacom: down 17%

VIA (Viacom A Shares) peaked at 46.98 in September of 2003, and are at 34.51
now. The current price is 27% below the 52 week peak. VIA.B (B shares)
peaked at 46.95 and are at 34.75. If you average both classes on a shares
outstanding weighted basis, you have 26% off.

CCU is 25% below the 52 week peak. In other words, CCU is off less than
VIA, based on share price. But, of course, since VIA has three times the
number of shares, the money loss is much more on VIA.

I know this is difficult for republitards, so allow me to
explain.

It has nothing to do with politics, but, rather, with a slow year for radio
revenues. All ad industry issues are suffering, each depending on the
sector. Ad agencies are also off.

That means Clear Channel is off more than Viacom.

And Viacom is not a pure radio company. That is why I used the term "even"
to include some entertainment stocks that had significant radio involved to
show that radio was down all over, even effecting non-core radio issues. .

The average radio company is down about 25%. Some a little more, some a
little less. This has been widely commented in investment discussions,
ranging from Morningstar.com to broadcast publications like
www.insideradio.con and The Radio Business Report.

That means that for every dollar Clear Channel has,
they lost 22 cents compared to 17 cents for Viacom.

But Viacom has lost $19 billion in stock value, while CCU has lost less than
$7 billion.

Both are earning money, Viacom less per share, but it is
a larger company.

How much a company earns per share is irrelevant. That depends on the number
of shares you divide net income by, and is only relevant to one company. The
key number is the price to earnings ratio. Lower is better. It means every
dollar invested earns more money.

There is no EPS standard or stock price standard. General Dynamics at $108 a
share is not a better quality stock than General Electric at $34.

Clear Channel has 614 million shares, and the market cap is $21 billion, and
its price to earnings ratio is 18.1
Viacom has 1.7 billion shares, and the market cap is $59 billion, and its
P/E ratio is over 35.

Viacom is more overpriced, selling at a 35 to one ratio, vs. Clear's lower
18 to 1 ratio.

Other competitors of Clear Channel:
Citadel Broadcasting: down 33% (losing money, much smaller
company)
Cumulus Media: down 28% (earning money, much
smaller company)
Sinclair Broadcast: down 32% (earning money, much smaller)
Journal Communication: down 3% (earning money, much smaller)

The stock only began trading 9 months ago. And it is off just about 11% from
its peak, not 3%.

Entercom: down 29% (earning money, much smaller)
Emmis: down 25% (no earnings, much smaller)
Hearst-Argyle: down 14% (earning money, much smaller)

No radio in Hearst, I believe. Only 27 TV stations.

Saga: down 10% (earning money, tiny company)

In conclusion, all radio appears to be down, but Clear
Channel is down comparatively more because it has more
assets, stations, and is a "diversified media company".

Univision, down 27%. Diversified media company.
SBSA off nearly 30%. Radio only.
Beasley off 26%. Radio only.
Entravision off 30% etc.

First, this has nothing at all to do with Howard Stern being off 6 stations.
Second, it has nothing to do with the politics of CCU or Viacom or anyone.