Posts Tagged ‘stations’
Clear Channel Selling 60 More Radio Stations
Wednesday, August 6th, 2008Clear Channel targets 55 for sale
Tuesday, August 5th, 2008The takeover by Bain Capital and THL Partners is now complete, so the process of identifying and selling stations to meet current FCC ownership limits has begun. The new Clear Channel will need to sell 55 stations in 37 markets. Media Venture Partners has been hired by Clear Channel to market the stations for sale or swaps.
Source: Inside Radio
CBS Radio to sell 50 stations
Thursday, July 31st, 2008CEO Les Moonves says the decision to divest 50 mid-sized markets comes as the company adjusts its portfolio. He says “By selling these slower-growth stations, we can focus on the larger markets that are showing real growth.” Moonves says big market stations did “very well” in the second quarter. Overall, CBS Radio same-station revenues dropped 9% in second quarter to $416 million.