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As the date for the shareholder vote on whether Clear Channel should accept the buyout offer from private equity firms Thomas H. Lee Partners and Bain Capital Partners nears, speculation has arisen over how likely it is that the buyout will go through. While Clear Channel has been urging shareholders to accept the bid, analysts believe shareholders will reject it.
Now, institutional shareholder advisory firm Glass Lewis has recommended that investors vote against the buyout, writes the Chicago Tribune. In its report, Glass Lewis agrees with critics who say the offer undervalues the company. It said Clear Channel is worth $39.71 to $41.40 a share, not the $37.60 offered.
Clear Channel has expressed disappointment with Glass Lewis’s recommendation.
Marketers have unleashed their holiday promotions earlier than ever this year, with many hitting the stores well before Thanksgiving. But Sirius XM isn’t launching most of its 24-hour holiday music channels until turkey day or later.
The newly merged company…
October advertising revenue plunged for The New York Times Co. and McClatchy, despite some growth in online ad revenue.
The New York Times saw ad revenue plummet 17.2%; online ad revenue increased 5.3%, writes MediaPost. Classifieds have fallen 27.3% year to…
The switch to digital television arrives in less than three months, and to remind consumers of the transition, the National Association of Broadcasters is running a campaign across PumpTop TV’s network of screens at gas stations.
The spot began airing…
Through the first half of the year, automakers have slimmed their ad spending by 10% to $6.1 billion, according to Nielsen Monitor Plus.
General Motors slipped 6% to $1.2 billion, while Ford Motor cut ad spend by 22% to $954…
Getting real-time, 24/7 online access to company news and reaching responsive and efficient PR representatives still rate high on journalists’ wish-lists, but reporters are increasingly sourcing stories from new forms of media as well, according to research from Bulldog Reporter and TEKgroup…
Some 20% of top brand marketers continue to send additional emails to consumers, even after they confirm requests from those consumers to “unsubscribe” from an email marketing list, according to a research study from Return Path, MarketingCharts writes.
Though the study,…
