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Clear Channel yesterday confirmed rumors that it was entertaining offers from suitors interested in purchasing the company, and has now retained Goldman, Sachs & Co. to help it evaluate strategies.
Clear Channel also moved up its third quarter conference call from Nov. 6 to Oct. 30, writes Mediaweek.
Analysts believe a leveraged buyout is the least likely of the options open to the company. A more likely scenario, according to Wachovia Capital Markets, could be asset sales (i.e., small market radio stations or television assets) or a partial spinoff of Clear Channel Outdoor (of which it owns 90 percent).
Clear Channel, which owns 1200 radio stations, sold off its concert venue business last year, and spun off 10 percent of its outdoor business to improve its financial position.
The company has taken the lead on helping the radio industry find a state-of-the-art electronic measurement ratings system, forming a committee to choose among a few contenders. Arbitron’s PPM is currently the leader in the space, with nearly a third of broadcasters using the system including No. 2 broadcaster CBS Radio, but Clear Channel has so far refused to sign for the PPM.
Katz Radio Group has snared two more major clients, having approached and signed CBS Radio and Entercom Communications, formerly clients of Interep.
CBS Radio represented about a third of Interep’s total revenue, writes Mediaweek.
Interep filed last month to convert its…
B-to-b publication revenue was down slightly in 2007, sagging 0.4% from 2006; it was flat from 2005, according to American Business Media’s Financial Trend Report.
Print advertising pulled 84% of the average b-to-b title’s revenue, writes Folio.
Editorial, advertising and circulation…
The number of Britons accessing the mobile internet increased by 25% (from 5.8 to 7.3 million) from Q2 to Q3 2008, compared with only a 3% increase for PC-based internet users (34.3 to 35.3 million Britons), according to (pdf) insight data…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
Black Friday is typically known as the day of unbeatable deals, but also long lines, packed stores, and jostling customers.
But this season, online retail giants Amazon and eBay are doing their best to get customers out of stores and…
Despite the U.S. financial crisis and dwindling marketing budgets at some financial institutions, the number of retention-related direct-mail offers sent by banks to current customers in Q3 2008 was 42% higher than in Q2.
View chart of estimated mail volume, Q3…
