Clear Channel news stories on Newser

Clear Channel Boss Hails 'King' Limbaugh

Mary Papenfuss — Wed, 28 Mar 2012 02:40:00 CDT

Some women might be considered "sluts" by Rush Limbaugh, but his boss thinks of him as a "king." Despite the ad exodus and female fury after Limbaugh branded law school student Sandra Fluke a slut last month for speaking out for contraceptive health insurance coverage, Clear Channel CEO Bob Pittman...

24/7 Online Artist Channels Point to Radio's Future

Evann Gastaldo — Fri, 12 Jun 2009 11:21:01 CDT

Musicians want to connect with fans, and radio needs to survive in the Web 2.0 era: Enter artist personal experience (a.p.e.) radio. Clear Channel launches the 24/7 online channels, featuring artists’ personal radio shows, next month. “We feel that the old model of trying to get...

Limbaugh Signs $400M Deal

Sam Gale Rosen — Wed, 02 Jul 2008 16:26:03 CDT

Rush Limbaugh has signed an eight-year contract renewing his syndication with Clear Channel for more than $400 million. This makes for the second-most-lucrative deal in radio history, ranking only behind Howard Stern's $500 million deal with Sirius in 2004, the Washington Post reports. "I'm having more fun than a human...

Zell Turns to Radio Talent to Shake Up Newspapers

Wesley Oliver — Mon, 07 Apr 2008 08:20:05 CDT

New publishing mogul Sam Zell is recruiting colorful veterans from the radio industry in a bid to help save his struggling Tribune Company, the Wall Street Journal reports. Zell is hoping the imports will spark innovation at the company, whose debt has swelled to $12.8 billion amid declining newspaper...

LA Billboards Off the Charts

Nick McMaster — Thu, 03 Apr 2008 15:21:14 CDT

Billboards are out of control in the City of Angels, Pat Morrison writes in the Los Angeles Times , and an industry with almost no accountability is again fighting city efforts at regulation. Giants Clear Channel and CBS Outdoor are throwing a "well-lawyered hissy-fit" against an effort to make the location...

Clear Channel, Buyers Sue Banks Over Soured Deal

Nick McMaster — Wed, 26 Mar 2008 18:02:26 CDT

The two private-equity firms set to buy Clear Channel sued the group of banks they had engaged to fund the deal, the Wall Street Journal reports. Joined by Clear Channel, Bain Capital and Thomas H. Lee Partners accused the consortium—including Citigroup, Deutsche Bank, and Wachovia—of breaching contract by...

Stocks Fall on Recession Fears

Sam Gale Rosen — Wed, 26 Mar 2008 15:39:00 CDT

Stocks fell today amid a new wave of recession concerns, Bloomberg reports. A big drop by Citigroup led financials to their worst plunge in almost two weeks, and oil prices jumped back up after inventory showed supply unchanged from last week. The Dow ended down 109.74 to 12,422....

$19B Buyout of Clear Channel Nearly Dead

Matt Cantor — Tue, 25 Mar 2008 19:30:59 CDT

A $19 billion bid to privatize Clear Channel appears likely to fall through as buyers and financiers bicker—with credit-crunch-induced liquidity woes a major stumbling block, the Wall Street Journal reports. A credit agreement between private equity firms and the banks funding the move has become shaky. “No one wants...

Investors Worry Clear Channel Sale Is Off the Air

Jim O'Neill — Wed, 30 Jan 2008 15:22:40 CST

Optimism on Wall Street about Clear Channel's $19 billion equity buyout is fading and its share price is spiraling lower as the deal, more than a year in the making, appears to be unraveling—done in by regulatory issues, credit worries, and deteriorating industry conditions, the Wall Street Journal reports.