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"December 14, 2007 Mitt Romney's VC Firm to Buy Clear Channel Posted by Chris Brunner at December 14, 2007 10:25 AM

What would it cost to buy the support of just about every nationally syndicated neocon talk show host in America? About $19.5 billion, which is what Mitt Romney's private equity firm, Bain Capital, and Thomas H. Lee Partners have agreed to pay in a leveraged buyout agreement with Clear Channel Communications, the largest radio station owner in the country. This is part of a negotiation that has been pending for over a year.

Clear Channel owns more than 1,100 full-power AM, FM, and shortwave radio stations, twelve radio channels on XM Satellite Radio, and more than 30 television stations in the United States. Premiere Radio Networks, which is the largest syndication company in the United States, is a wholly owned subsidiary of Clear Channel and is home to Rush Limbaugh, Glenn Beck, and many others. Sean Hannity recently signed a large multi-market contract with Clear Channel, as well.

From an anonymous email:

"I'll bet those hosts won't reveal that conflict of interest, but it's worth noting when you hear them begin hyping Romney, which has already begun. A lot of GOP supporters will support whomever they are told to support, so be prepared for a big push for Romney. On the bright side, Romney has more vulnerabilities than Rudy, based on his record. Look at this as the GOP establishment doing us a favor. Rich men can bankroll their own campaigns (a la John Kerry), but it takes a special breed to use investors' money to buy entire networks that can operate as passive wings of a presidential campaign."

It should be noted that Mitt Romney, while no longer the CEO, remains a silent partner of Bain Capital."

This got me to thinking about the last ten years of my life.

I got my first computer in 1998, and it was in that year I discovered talk radio and FreeRepublic.

Up until then, I was a classic sheeple ... wife, job, 4 or 5 kids (can't remember if one was out of the house at the time), and happy to be alive.

But in 1998, there was a lot of murmering about Bill Clinton, and though I did not consider myself political, I was intrigued with the thought that something un-American might be going on in the White House and politics in general.

Rush was talking sense and FreeRepublic offered me the opportunity to sit and stare at the printed word, mulling over the thought(s) transcribed, and reverberating in my head.

Which brings me to the here and now.

FreeRepublic and talk radion are both about diseminating information.

Someone has said "Knowledge is power" and Rush was the one I heard say, "Words mean something"

If the wrong person gets into the White House, I think we can be assured that a lot of the information we all get daily would cease.

Now, I am not necesarilly a Romnet fan ... but he is no more connected to Baine than Cheney is to Halliburton. But I think I would want someone that understands the business of talk radio making decisions, and vetoeing, than someone who has no problem with trampling on and eliminating 1st Ammendment rights.

I welcome serious commentary on what I've posted here.

After all ... that's what I frequent Freerepublic .... that, and the fact that Jim allows me into his living room to take part in the on-going discusion about our (once?) blessed land.

1 posted on 01/31/2008 5:04:52 AM PST by knarf
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To: knarf

Make no mistake.

If Mrs. Impeached President is elected, she will enact the fairness doctrine and effectually kill talk radio, THE primary voice of conservatism.


2 posted on 01/31/2008 5:07:51 AM PST by Ghost of Philip Marlowe (If Hillary is elected, her legacy will be telling the American people: Better put some ice on that.)
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To: knarf

Well thought out. You win the best vanity of the month.


3 posted on 01/31/2008 5:08:13 AM PST by bmwcyle (What is the American voter thinking?)
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To: knarf

This crap has been posted before. Clear Channlel turned turned down an offer from the same group in April that was for a few billion more dollars. Why would they take less now?
After this story was originally posted the site from which it was taken was no longer available on the net.This is a political hatchet job.


10 posted on 01/31/2008 6:07:07 AM PST by em2vn
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To: knarf
Oh yeah, The management of Clear Channel send content memos to Rush, Sean, and Glenn daily, explaining what party line spew forth that day.

</sarc>

11 posted on 01/31/2008 6:26:16 AM PST by Yo-Yo (USAF, TAC, 12th AF, 366 TFW, 366 MG, 366 CRS, Mtn Home AFB, 1978-81)
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To: knarf

Is Talk radio on the Romney hook/conflict of interest?

http://freerepublic.com/focus/f-news/1961240/posts


15 posted on 01/31/2008 6:54:07 AM PST by FreedomProtector
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