And certainly not to fuel IBOCCRock, but if this may be an indicator
that the financial interests that have been screwing with RADIO for the
past decade, are about to slide out of the mess they've created, and
move on to other pastures.

Talk about your Good News/Bad News.

Radio was never meant to be a Wall Street investment commodity. A
business, yes. But not the kind of business that MBA's salivate over.
When Money got into broadcasting, much of the public service commitment
left the building. There's little or no money in public service. News
became a profit center, and as such had to become entertainment. News,
when correctly done, is not, and never will be a high profile profit
center. It may pay for itself, but News, correctly done, is expensive
and it's messy.

And it's a key part of public service.

What passes for Radio, today, like television, is a commodity.

It may be that the money guys are starting to see that Radio, the
public, and themselves are not best served as a commodity.


If this signals a resetting of priorities...there may be some hope.
And a realization that, for those of us who still believe in shortwave,
profit is not the Only Thing.

Then, again, the brain surgeons in the corner offices at Radio are
not known for 'getting it.'

I don't need to mention any names.



From AllAccess.com


Clear Channel Buy-Out Doubts Keep Growing
Deal Still Likely, But Doubts Are Growing

I don't see anything yet that indicates the deal won't go through...



The $19.5 Billion leveraged buy-out of CLEAR CHANNEL COMMUNICATIONS,
could be the next victim of the storm in the deal world, reports THE
FINANCIAL TIMES. Skepticism that THOMAS H LEE and BAIN CAPITAL will go
through with their purchase on the original terms has been fed by the
falling share prices of comparable companies.

CLEAR CHANNEL's stock traded yesterday at $35.06, a discount to the
$39.20 price the buyers agreed in MAY 2007, which suggests that
investors are betting against the deal. "It is susceptible to recession
but that was built into the plan," said one person familiar with the
thinking of the buying group. "There is no good reason to walk."

The purchase is expected to receive FCC approval as early as the end of
this week. Bankers familiar with the transaction say the buyers are
unlikely to do anything before regulators sign off on the deal, if only
to keep their options open.

"I don't see anything yet that indicates the deal won't go through,"
said one senior banker involved in the deal. "But there are a lot of
undercurrents, including the fact that the returns for the sponsors are
terrible and the break-up fee isn't huge."

A Tougher Viewpoint

24/7WALLST.COM takes a harsher view, writing "the odds that the buyers
of CLEAR CHANNEL (CCU) will walk on the deal are probably north of 99%.
The total value of the buy-out is $19.5 billion. According to the FT
'skepticism that THOMAS H. LEE and BAIN CAPITAL will go through with
their purchase on the original terms has been fed by the falling share
prices of comparable companies.'"

If the private equity buyers walk away, they would be likely to have to
pay a $500 Million break-up fee to the company.

Some of the banks providing the debt are also committed to coming up
with some of the equity and would share in paying that fee. Banks have
been trying to reduce financing commitments for buy-outs. Even when the
deal was first struck, in NOVEMBER 2006, competitors to THOMAS H LEE and
BAIN CAPITAL thought the terms aggressive.

When contacted by ALL ACCESS, a CLEAR CHANNEL spokesperson declined
comment.

"D Peter Maus" wrote in message
...


If this signals a resetting of priorities...there may be some hope. And
a realization that, for those of us who still believe in shortwave, profit
is not the Only Thing.

Then, again, the brain surgeons in the corner offices at Radio are not
known for 'getting it.'

I don't need to mention any names.



From AllAccess.com


Clear Channel Buy-Out Doubts Keep Growing
Deal Still Likely, But Doubts Are Growing


The root cause for these doubts has nothing to do with radio. It has to do
with the mortgage and banking and housing crisis, which has made credit
tighter as well as impacting the investment bankers who are part of the
radio deals who also may have exposure to mortgage related issues.

This same situation affects auto parts companies, biomeds, Internet
companies, etc. It's a credit issue, not a radio one.

On Jan 8, 10:59*am, D Peter Maus wrote:
* *And certainly not to fuel IBOCCRock, but if this may be an indicator
that the financial interests that have been screwing with RADIO for the
past decade, are about to slide out of the mess they've created, and
move on to other pastures.

* *Talk about your Good News/Bad News.

* *Radio was never meant to be a Wall Street investment commodity. A
business, yes. But not the kind of business that MBA's salivate over.
When Money got into broadcasting, much of the public service commitment
left the building. There's little or no money in public service. News
became a profit center, and as such had to become entertainment. News,
when correctly done, is not, and never will be a high profile profit
center. It may pay for itself, but News, correctly done, is expensive
and it's messy.

* *And it's a key part of public service.

* *What passes for Radio, today, like television, is a commodity.

* *It may be that the money guys are starting to see that Radio, the
public, and themselves are not best served as a commodity.

* *If this signals a resetting of priorities...there may be some hope.
And a realization that, for those of us who still believe in shortwave,
profit is not the Only Thing.

* *Then, again, the brain surgeons in the corner offices at Radio are
not known for 'getting it.'

* *I don't need to mention any names.

* *From AllAccess.com

Clear Channel Buy-Out Doubts Keep Growing
Deal Still Likely, But Doubts Are Growing

I don't see anything yet that indicates the deal won't go through...

The $19.5 Billion leveraged buy-out of CLEAR CHANNEL COMMUNICATIONS,
could be the next victim of the storm in the deal world, reports THE
FINANCIAL TIMES. Skepticism that THOMAS H LEE and BAIN CAPITAL will go
through with their purchase on the original terms has been fed by the
falling share prices of comparable companies.

CLEAR CHANNEL's stock traded yesterday at $35.06, a discount to the
$39.20 price the buyers agreed in MAY 2007, which suggests that
investors are betting against the deal. "It is susceptible to recession
but that was built into the plan," said one person familiar with the
thinking of the buying group. "There is no good reason to walk."

The purchase is expected to receive FCC approval as early as the end of
this week. Bankers familiar with the transaction say the buyers are
unlikely to do anything before regulators sign off on the deal, if only
to keep their options open.

"I don't see anything yet that indicates the deal won't go through,"
said one senior banker involved in the deal. "But there are a lot of
undercurrents, including the fact that the returns for the sponsors are
terrible and the break-up fee isn't huge."

A Tougher Viewpoint

24/7WALLST.COM takes a harsher view, writing "the odds that the buyers
of CLEAR CHANNEL (CCU) will walk on the deal are probably north of 99%.
The total value of the buy-out is $19.5 billion. According to the FT
'skepticism that THOMAS H. LEE and BAIN CAPITAL will go through with
their purchase on the original terms has been fed by the falling share
prices of comparable companies.'"

If the private equity buyers walk away, they would be likely to have to
pay a $500 Million break-up fee to the company.

Some of the banks providing the debt are also committed to coming up
with some of the equity and would share in paying that fee. Banks have
been trying to reduce financing commitments for buy-outs. Even when the
deal was first struck, in NOVEMBER 2006, competitors to THOMAS H LEE and
BAIN CAPITAL thought the terms aggressive.

When contacted by ALL ACCESS, a CLEAR CHANNEL spokesperson declined
comment.

I'm hungry - feed me!

On Jan 8, 11:11*am, "David Eduardo" wrote:
"D Peter Maus" wrote in ...







* If this signals a resetting of priorities...there may be some hope. And
a realization that, for those of us who still believe in shortwave, profit
is not the Only Thing.

* Then, again, the brain surgeons in the corner offices at Radio are not
known for 'getting it.'

* I don't need to mention any names.

* From AllAccess.com

Clear Channel Buy-Out Doubts Keep Growing
Deal Still Likely, But Doubts Are Growing

The root cause for these doubts has nothing to do with radio. It has to do
with the mortgage and banking and housing crisis, which has made credit
tighter as well as impacting the investment bankers who are part of the
radio deals who also may have exposure to mortgage related issues.

This same situation affects auto parts companies, biomeds, Internet
companies, etc. It's a credit issue, not a radio one.- Hide quoted text -

- Show quoted text -

With terrestrial radio stocks in the penny-stock range, you know damn-
well your industry is headed into the ****ter, despite the HD Radio
farce.

On Jan 8, 11:11 am, "David Eduardo" wrote:
"D Peter Maus" wrote in ...









If this signals a resetting of priorities...there may be some hope. And
a realization that, for those of us who still believe in shortwave, profit
is not the Only Thing.

Then, again, the brain surgeons in the corner offices at Radio are not
known for 'getting it.'

I don't need to mention any names.

From AllAccess.com

Clear Channel Buy-Out Doubts Keep Growing
Deal Still Likely, But Doubts Are Growing

The root cause for these doubts has nothing to do with radio. It has to do
with the mortgage and banking and housing crisis, which has made credit
tighter as well as impacting the investment bankers who are part of the
radio deals who also may have exposure to mortgage related issues.

This same situation affects auto parts companies, biomeds, Internet
companies, etc. It's a credit issue, not a radio one.

Eduardo - Your industry is in free-fall due to bad decisions made
radio execs that have a total disconnect with their audience.

It has nothing to do with the mortgage and banking industry - nice
try

jw

On Jan 8, 11:11*am, "David Eduardo" wrote:
"D Peter Maus" wrote in ...







* If this signals a resetting of priorities...there may be some hope. And
a realization that, for those of us who still believe in shortwave, profit
is not the Only Thing.

* Then, again, the brain surgeons in the corner offices at Radio are not
known for 'getting it.'

* I don't need to mention any names.

* From AllAccess.com

Clear Channel Buy-Out Doubts Keep Growing
Deal Still Likely, But Doubts Are Growing

The root cause for these doubts has nothing to do with radio. It has to do
with the mortgage and banking and housing crisis, which has made credit
tighter as well as impacting the investment bankers who are part of the
radio deals who also may have exposure to mortgage related issues.

This same situation affects auto parts companies, biomeds, Internet
companies, etc. It's a credit issue, not a radio one.- Hide quoted text -

- Show quoted text -

"Help the Victims of Consolidation"

"With 2008 likely to be a year of career carnage unlike any we have
seen to date, this is a good way to do something positive for yourself
if you are fortunate enough to remain fully employed and for others
who get caught in the tragedy of what has clearly become the radio
industry's greatest failure -- consolidation"

http://insidemusicmedia.blogspot.com...olidation.html

LOL, Eduardo!

On Jan 8, 11:11*am, "David Eduardo" wrote:
"D Peter Maus" wrote in ...







* If this signals a resetting of priorities...there may be some hope. And
a realization that, for those of us who still believe in shortwave, profit
is not the Only Thing.

* Then, again, the brain surgeons in the corner offices at Radio are not
known for 'getting it.'

* I don't need to mention any names.

* From AllAccess.com

Clear Channel Buy-Out Doubts Keep Growing
Deal Still Likely, But Doubts Are Growing

The root cause for these doubts has nothing to do with radio. It has to do
with the mortgage and banking and housing crisis, which has made credit
tighter as well as impacting the investment bankers who are part of the
radio deals who also may have exposure to mortgage related issues.

This same situation affects auto parts companies, biomeds, Internet
companies, etc. It's a credit issue, not a radio one.- Hide quoted text -

- Show quoted text -

"BRACING FOR THE WORST"

"In fact, the earnings report was so dismal that it shocked industry
analysts and led to yet another drop in Citadel's already sagging
stock price, pushing it further into penny stock territory. Given a
brutal outlook for the radio business and its own particularly
alarming financial future, the company was forced to write off an
unexpectedly large portion of the value of its stations, sending
investors running for cover. UPDATE: as the trading day continued, CDL
shares were pounded even further, closing down $1.46 at $2.40 a share
(a 38% loss in just one day). Volume was a heavy 11.5 million shares
(405% higher than normal) and Citadel's total market cap loss for the
day was a staggering $385,000,000. As recently as 2003, Citadel shares
traded as high as $23.00"

http://radioequalizer.blogspot.com/2...er-faces..html

Uh, oh - you've gotten me started!

On Jan 8, 11:11 am, "David Eduardo" wrote:
"D Peter Maus" wrote in ...







If this signals a resetting of priorities...there may be some hope. And
a realization that, for those of us who still believe in shortwave, profit
is not the Only Thing.

Then, again, the brain surgeons in the corner offices at Radio are not
known for 'getting it.'

I don't need to mention any names.

From AllAccess.com

Clear Channel Buy-Out Doubts Keep Growing
Deal Still Likely, But Doubts Are Growing

The root cause for these doubts has nothing to do with radio. It has to do
with the mortgage and banking and housing crisis, which has made credit
tighter as well as impacting the investment bankers who are part of the
radio deals who also may have exposure to mortgage related issues.

This same situation affects auto parts companies, biomeds, Internet
companies, etc. It's a credit issue, not a radio one.- Hide quoted text -

- Show quoted text -

Hey, Eduardo - is your little research staff laughing, now? That is,
if they haven't been laid-off, yet. I hope that your retirement isn't
in a
company-sponsored pension plan - it will get raided by Univision, once
it really starts to tank. How does it feel to be in a decline
industry? No wonder, the HD Alliance is throwing terrestrial radio
under-the bus, in their new joke of a marketing campaign:

"HD Radio's New Campaign"

"In a sort of snarky approach, the campaign features a humanized radio
talking to his owner about why HD Radio product is so attractive and
not worth the bother. But in the process, traditional radio is
repositioned as old-fashioned, repetitive, and lame... You have to
hear these commercials a few times before you really get a basic
understanding of what they're trying to accomplish, while they throw
AM/FM Radio under the bus."

http://jacobsmedia.typepad.com/jacob...ios-new-1.html

"GSD&M Preps $200 Mil.+ HD Radio Push"

"GSD&M has already begun producing work. The ads feature the voice of
cartoon character SpongeBob (actor Tom Kenny) as a conventional car
radio calling its owner and leaving messages as if it's a jilted
lover. 'You know, I could totally pick up those new extra HD stations
if I hit the gym,' the radio says in desperation. 'Is that what you're
into now? Huh? Call me!'"

http://www.adweek.com/aw/national/ar..._id=1003691980

"Radio: You don't want HD Radio's Bilk-o in your foxhole."

"How would you like it if one you believed to be a business partner
did an about face and supported the very thing your industry is
fighting against? Memo to terrestrial radio: iBiquity and the HD Radio
Alliance just double-crossed you."

http://gormanmediablog.blogspot.com/...bilk-o-in.html

You work in such a proud industry, Eduardo!

David Eduardo wrote:



The root cause for these doubts has nothing to do with radio. It has to do
with the mortgage and banking and housing crisis, which has made credit
tighter as well as impacting the investment bankers who are part of the
radio deals who also may have exposure to mortgage related issues.

This same situation affects auto parts companies, biomeds, Internet
companies, etc. It's a credit issue, not a radio one.



Huh? When times are tough you need to push harder. Peter's right,
radio is not the most amenable business when it comes to
standardization. Every market is unique. Cookie cutters suck.

Rfburns wrote:
On Jan 8, 11:11 am, "David Eduardo" wrote:
"D Peter Maus" wrote in ...









If this signals a resetting of priorities...there may be some hope. And
a realization that, for those of us who still believe in shortwave, profit
is not the Only Thing.
Then, again, the brain surgeons in the corner offices at Radio are not
known for 'getting it.'
I don't need to mention any names.
From AllAccess.com
Clear Channel Buy-Out Doubts Keep Growing
Deal Still Likely, But Doubts Are Growing
The root cause for these doubts has nothing to do with radio. It has to do
with the mortgage and banking and housing crisis, which has made credit
tighter as well as impacting the investment bankers who are part of the
radio deals who also may have exposure to mortgage related issues.

This same situation affects auto parts companies, biomeds, Internet
companies, etc. It's a credit issue, not a radio one.

Eduardo - Your industry is in free-fall due to bad decisions made
radio execs that have a total disconnect with their audience.

It has nothing to do with the mortgage and banking industry - nice
try

jw

I actually got RF burns a lot when I worked at KRIZ (now KOY). In the
mid '60s you had to take antenna current measurements (every 30
minutes!) at the base of the tower, which involved a big-ass slide
switch. If you touched the wrong stuff you'd get bad to the bone RF burns.