LYCOS RETRIEVER 
Clear Channel Communications: United States
built 649 days ago
By October 1996, clear Channel owned 121 radio stations and 11 television stations, making it the second-largest radio group in the country behind Westinghouse/CBS. As the company prepared plans for the late 1990s and the beginning of the 21st century, more acquisitions were in the offing. At the beginning of 1997, Mays had more than $1 billion at his disposal for future acquisitions and expressed no desire to slow down in the years ahead. "We're the fastest-growing media company in the country," Mays boasted to Fortune magazine. "We're going to be the acquirer, not the acquiree," he promised.
Source:
In a few markets Clear Channel has an FM station carrying Hispanic programming full-time. In some markets the format is a Contemporary Tropical format while in others the format carried is more of a Mexican format. In a few markets a Clear Channel FM station carries a rap based Spanish format known as Hurban, which blends Spanish dance music with R & B hits as well as some Hip Hop. The division is run by Spanish radio executive Alfredo Alonso, who joined Clear Channel in September 2004 as Senior Vice President Hispanic Radio.[10]
Source:
This press release contains forward-looking statements based on current Clear Channel management expectations. Those forward-looking statements include all statements other than those made solely with respect to historical fact. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statements. These factors include, but are not limited to, (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; (2) the outcome of any legal proceedings that have been or may be instituted against Clear Channel and others relating to the merger agreement; (3) the inability to complete the merger due to the failure to obtain shareholder approval or the failure to satisfy other conditions to completion of the merger, including expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and approval by the Federal Communications Commission; (4) the failure to obtain the necessary debt financing arrangements set forth in commitment letters received in connection with the merger; (5) risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the merger; (6) the ability to recognize the benefits of the merger; (7) the amount of the costs, fees, expenses and charges related to the merger and the actual terms of certain financings that will be obtained for the merger; and (8) the impact of the substantial indebtedness incurred to finance the consummation of the merger; and other risks that are set forth in the "Risk Factors," "Legal Proceedings" and "Management Discussion and Analysis of Results of Operations and Financial Condition" sections of Clear Channel's SEC filings. Many of the factors that will determine the outcome of the subject matter of this press release are beyond Clear Channel's ability to control or predict. Clear Channel undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Source:
While most of Clear Channel's news/talk stations carry some combination of Beck, Limbaugh, Hannity, Savage and Noory, this is not always the case. Many stations (particularly in the larger markets) like KFI, KOA and WLW broadcast a lineup with significant local programming.
Source:
The complaints state that radio is by far the most effective marketing tool for music artists to promote concerts, and Clear Channel enjoys a near monopoly of the market. Artists often have no other choice but to use Clear Channel to promote live concerts, the complaint continues. According to the complaints, the company's unlawful leveraging of its economic strength in the FM radio business obligates artists who would otherwise turn to other concert promoters to use Clear Channel's promotion services.
Source:
In August 2006, TheDeal.com reported that Clear Channel "is considering filing a formal petition to the Federal Communications Commission seeking to raise the caps limiting how many stations one company can own in the largest individual U.S. markets." According to the article, the company has 1,189 radio stations, but "wants the FCC to relax a rule that limits a company's radio station ownership in individual markets." A Clear Channel spokesperson said, "Easing the ownership restrictions will help level the playing field and let free radio compete with iPods, online music services and satellite radio. Certainly, seeing that satellite radio has 150 unregulated stations in every market and free radio is limited to just eight shows the apparent disparity." [1]
Source:
MORE ABOUT
United States