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Clear Channel takes $19 billion buyout (Romney firm Bain Capital)
AOL Money & Finance ^ | 05/19/07 | Zac Bissonnette

Posted on 05/19/2007 10:40:42 PM PDT by AKSurprise

The board of directors at Clear Channel Communications (NYSE: CCU) finally decided to endorse a $19.35 billion buyout package that is nearly identical to the one it rejected last month. Bain Capital (founded by Republican presidential hopeful Mitt Romney) and Thomas H. Lee Partners won with an offer of $39.20 per share, up from the $39 offer the board rejected in April.


TOPICS: Business/Economy; Extended News; News/Current Events; Politics/Elections
KEYWORDS: baincapital; clearchannel; election; romney
Finally a member of the MSM might actually be fair to Republicans. Could this be considered another win for the Romney camp... lol
1 posted on 05/19/2007 10:40:46 PM PDT by AKSurprise
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To: AKSurprise

Good news.


2 posted on 05/19/2007 10:46:19 PM PDT by jveritas (Support The Commander in Chief in Times of War)
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To: AKSurprise

Started in 1972 by Lowry Mays and B.J. “Red” McCombs, Clear Channel expanded as US broadcast ownership rules relaxed. Besides radio stations, it acquired theaters and other live performance venues and advertising billboards, in the process becoming a lightning rod for critics including the AFL-CIO who say the firm has homogenized music broadcasts nationwide, diminished the diversity of musical entertainment, and used its cultural clout to advance a conservative political agenda.


3 posted on 05/19/2007 10:52:21 PM PDT by AKSurprise
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To: AKSurprise

A lot of talk comes from Clear Channel. I hear much preaching and filth from way to the social left on those stations.


4 posted on 05/19/2007 10:58:39 PM PDT by familyop (cbt. engr. (cbt.--has been))
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To: AKSurprise

A lot of Freepers listen to KFI in Los Angeles ... KFI is Clear Channel ... I wonder how they will be affected.


5 posted on 05/19/2007 11:06:58 PM PDT by Fast Moving Angel (Great spirits have always encountered violent opposition from mediocre minds. --Einstein)
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To: AKSurprise

Red McCombs once owned our Minnesota Vikings.


6 posted on 05/19/2007 11:08:35 PM PDT by Brimack34
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To: familyop

When 2 Clear Channel stations in Boston dropped Air America it was pointed out by “progressive talk” fans that Romney was part of Bain Capital (Vast Right Wing Conspiracy!) though he
actually left several years ago...

>>Romney left Bain in 2001 to lead the Salt Lake City Winter Olympics.

...After making a lot of money from his years there, no
doubt, which the libs find disgusting. If it weren’t for the Clear Channel stations Air America would have only been on a few stations. As it is, prog talk is said to be on about 42 stations nationwide (at its peak it was around 80). Rush
has about 600 affiliates, by comparison.


7 posted on 05/19/2007 11:18:43 PM PDT by raccoonradio
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To: raccoonradio
prog talk is said to be on about 42 stations nationwide .....Rush has about 600 affiliates.

This is why we need to bring back the fairness doctrine. /s

8 posted on 05/19/2007 11:24:36 PM PDT by eeman
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To: AKSurprise
won with an offer of $39.20 per share, up from the $39 offer the board rejected in April.

Who says twenty cents can't buy anything anymore?

9 posted on 05/20/2007 5:57:37 AM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: AKSurprise

If this keeps up there won’t be any public companies left.


10 posted on 05/20/2007 5:58:25 AM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: familyop

Wonder what will become of Tom Sullivan in Sacramento?
I really miss him. Very smart and multi-talented in many areas.
If he ran for Governor, he would win hands down, IMO.

He sometimes subs for Rush Limbaugh. Rush was his best man when he remarried after many years a very eligible bachelor.


11 posted on 05/20/2007 7:33:50 AM PDT by ridesthemiles
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To: Fast Moving Angel
People listen to Rush all over the world. Conservatives all over the world owe Rush a debt of gratitude. I have the sense I am to remember where we would be without Rush Limbaugh and his program. Now that it appears there is a Clear Channel/Romney connection, I intend to think of Rush as a warrior who is being held hostage. Maybe now he needs us to rescue and stand by him? And I do not intend to abandon him...I intend to stand by Rush by not taking too seriously any endorsements he is being forced to make or imply.
12 posted on 12/11/2007 7:50:05 AM PST by 2ThumbsUp
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