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The deal for two private equity firms to purchase Clear Channel can go through, the Justice Department’s antitrust division says, if Clear Channel sells radio stations in four cities.
Clear Channel expects the merger to go through in the first quarter, according to The New York Times.
The company must sell six stations in Cincinnati, Houston, Las Vegas and San Francisco, because the two private equity firms, Thomas H. Lee Partners and Bain Capital, own interests in Cumulus Media Partners and Univision Communications which compete with Clear Channel, writes Mediaweek.
In January, the FCC approved the transaction, also with the stipulation that CC sell a number of radio stations.
Clear Channel is also in the process of off-loading 448 radio stations in small and mid-size markets, and has a separate deal to sell its television stations pending.
Clear Channel’s operating results for the first quarter were flat, reflecting a continued weak demand for radio advertising. Outdoor advertising performed better than radio in the quarter for the second quarter in a row, with revenue gains of 12 percent.…
Among the near-constant doom and gloom reporting about the newspaper industry, every now and then comes a story that points out how smaller, community newspapers are bucking the trend.
Small town newspapers are faring better than most of their regional…
Busy moms apparently aren’t willing to waste their “me time” watching television commercials.
According to new research from MindShare that focused on American mothers, reading, surfing the web and watching television were the top me-time - or personal down-time -…
Ryan Seacrest is in talks with CNN to replace Larry King, according to sources close to Seacrest.
The source, however, also says, “I don’t think it’s going to happen,” writes Fishbowl LA.
Seacrest is currently host of E! News, American Idol…
Editors at Hachette’s digital operation will do well to have their digital skill sets firmly behind them. The company has reportedly chopped 15 editorial jobs from a staff of about 100 in its digital operation; those positions will eventually be…
Most CMOs with more than 10 years of experience describe themselves as “extremely loyal” to specific brands, according to a survey of marketing officers at Fortune 100 companies conducted by LoyalTV.com, a video sharing website.
92 percent of CMOs with…
