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Clear Channel is in the "crapper", along with HD Radio
"Clear Channel's murky future"
"Sad because eliminating new hires (including sellers), failing to replace those who leave, stopping all investment in the future, and halting all advertising and research is the equivalent of saying that necessity requires us to strangle the goose that lays the golden eggs, even as the goose is up for sale." http://www.hear2.com/2008/01/clear-channels.html "CLEAR CHANNEL PULLS THE PLUG ON SOME HD RADIO STATIONS" "After conducting a survey of 340 HD2 stations to determine their programming needs, the folks at Clear Channel have dumped a number of their HD 'Format Lab' stations due to a lack of demand." http://talentfilter.blogspot.com/200...pulls-plug-on-... "WSJ: The Deafening Clear Channel Silence" Jan 28, 2008 Posted by Dana Cimilluca For Clear Channel Communications shareholders, silence is anything but golden. Arbitrage investors who have put their faith in the radio broadcaster's buyout are the latest deal junkies running scared after the honcho of one of the private-equity firms buying Clear Channel went unnervingly mum today. At $29.51, Clear Channel stock is down some 6% today and is nearly $10 below the $39.20 buyout price. http://blogs.wsj.com/deals/2008/01/2...ar-channel-sil... Clear Channel's stock has been historically at a high of $90, but has lost 2/3 of its value - most other major radio stocks have lost 90% and are in the penny-stock range. Going private, just as with merging, is a retreat strategy. Cramer is right - it's over for radio as we know it, and over for HD Radio. |
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