Clear Channel to be sold (Mr Soros do you hear that)

[59millionmorons]

Soros should buy Clear channel and give Rush and Hannity the boot.

http://www.bloomberg.com/apps/news?pid=20601103&sid=a.o5XLOFOLfs

By Andy Fixmer

Oct. 25 (Bloomberg) -- Clear Channel Communications Inc., the largest U.S. radio broadcaster, is considering a possible sale of the company and hired Goldman, Sachs & Co. as an adviser. The shares jumped 9.7 percent.

The board is evaluating alternatives to increase the share price and can't assure that a transaction will occur, San Antonio-based Clear Channel said today in a statement.

[tblue]

1. Soros, Theresa Heinz Kerry, Stephen Spielberg, Barbara Streisand

[Doctor_J]

2. , Don Henley, Rob Reiner, Michael J Fox,

the cash is there. Time to jump up.

[OzarkDem]

3. Next CNN

maybe Ted Turner can buy it back and restore its integrity.

[Vidar]

4. If only.

[Crunchy Frog]

5. Somebody should put together a petition to send to George Soros.

Seriously, we should try to persuade him to purchase Clear Channel. He would do more good for our democracy than spending millions on the Democratic party.

[tblue]

6. Amen 1000x!

[bobbie]

7. Yeah, let's put some money where some mouths are

How about it rich folks who like to talk liberal? I'm offering matching grants. :evilgrin:

[maseman]

8. Alright everyone calm down

Fairness doctrine not coming, Rush not going away, George Soros won't be buying Clear Channel, this might not even happen at all. The radio industry stocks have been very anemic over the past couple of years due to stagnent ad sales. Sales have basically been flat the past few years. Coupled with the media's overwhelming attention paid to satellite radio (which is still a very fraction of what audience traditional radio delivers) people have pulled money out of radio stocks.

Other companies such as Emmis Broadcasting who owns Power in NYC and LA, have also discussed going private or selling the company. ABC Radio (WABC-NY, KABC-LA, WLS-Chicago) are in active selling mode to Citadel Communications. Susquehanna Broadcasting who owend a number of stations including KNBR-San Francisco sold earlier this year. CBS Radio (formerly Infinity Broadcasting) have sold radio stations in about 5 markets this year. All due to slow growth scenarios.