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Clear Channel Communications: Results
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Such was the case when Clear Channel purchased the entire Backstreet Boys 2001 national tour for $100 million, according to a 2002 New York Times article. The article explains that Clear Channel set extremely high ticket prices to recoup the promotion costs it spent in competing with other local promoters. As a result, those who attended the Backstreet Boys concert paid far more than those who attended concerts promoted by another company in the area, the article said.
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Clear Channel epitomizes the disastrous consequences of hyper-consolidation that resulted from the 1996 Telecom Act; a disaster that activists say would further accelerate if the FCC implements the Omnibus ruling. They ... see the Ruling as an opportunity to spot light the need for democratizing the media.
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The suit cites that Clear Channel violated the Sherman Act for attempting and achieving monopolization. The suit seeks relief for plaintiffs and members of the class for company's unjust enrichment as the result of unlawful conduct.
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