Clear Channel BUY OUT--Air America in HOSTILE TAKEOVER

[nolies32fouettes]

THIS CAN"T BE GOOD!!!

http://www.progressiveu.org/135750-media-takeovers-clear-channel-to-become-private-after-being-sold-to-a-group-of-investors


I can't copy the 4 paragraphs. I can't get it to "copy". So if someone can copy 4 paragraphs, please feel free.

Thanks.

[4morewars]

1. Here ya go:

Clear channel, the company that almost went down the tubes after threatening their outlets to show their hit piece against John Kerry in 2004, is now going to be taken over by a "group of investors."

Clear Channel Communications Inc., the nation's biggest radio station owner, said Thursday it has agreed to be acquired for about $18.7 billion by an investment group.

The transaction would be one of the biggest deals in which a company has been taken private, and showcases the vast sums that buyout groups have been able to assemble to acquire public companies


...Clear Channel also said it plans to sell 448 of its radio stations, all located outside the top 100 markets, as well as its 42-station television group, which are also located in smaller markets. Collectively the properties made up less than 10 percent of the company's revenues last year.
The acquisition is not dependent on the sale of those assets, the company said.
The company has until Dec. 7 to solicit competing proposals. Another bid for Clear Channel had been expected from Providence Equity Partners, the Blackstone Group and Kohlberg Kravis Roberts & Co.
Clear Channel owns or operates 1,150 radio stations and is the largest operator of radio stations in the country. It also owns a majority of Clear Channel Outdoor, a major operator of billboard and bus-stop ads
...Clear Channel was founded in 1972 and benefited greatly from the loosening of media ownership rules, which allowed more radio stations to be held by a single owner in each market.

[wyldwolf]

23. I think this piece is wrong. It was Sinclair who showed the Kerry piece

[TayTay]

28. Sinclair Broadcasting did Stolen Honor, Not Clear Channel

This is wrong.

Sinclair Broadcasting: http://www.hoovers.com/sinclair-broadcast-group/--ID__44667--/free-co-factsheet.xhtml

Clear Channel Communications: http://www.hoovers.com/clear-channel/--ID__11824--/free-co-factsheet.xhtml

Not the same company.

[xxqqqzme]

2. I can't get the article to open.

[nolies32fouettes]

10. frustrating! I hate when that happens! Here's another live-link

maybe this will work.

http://www.progressiveu.org/135750-media-takeovers-clear-channel-to-become-private-after-being-sold-to-a-group-of-investors

[Hand]

3. Here's a bit of it.

Clear Channel Communications Inc., the nation's biggest radio station owner, said Thursday it has agreed to be acquired for about $18.7 billion by an investment group. The transaction would be one of the biggest deals in which a company has been taken private, and showcases the vast sums that buyout groups have been able to assemble to acquire public companies

...Clear Channel also said it plans to sell 448 of its radio stations, all located outside the top 100 markets, as well as its 42-station television group, which are also located in smaller markets. Collectively the properties made up less than 10 percent of the company's revenues last year. The acquisition is not dependent on the sale of those assets, the company said.
The company has until Dec. 7 to solicit competing proposals. Another bid for Clear Channel had been expected from Providence Equity Partners, the Blackstone Group and Kohlberg Kravis Roberts & Co.

Clear Channel owns or operates 1,150 radio stations and is the largest operator of radio stations in the country. It also owns a majority of Clear Channel Outdoor, a major operator of billboard and bus-stop ads ...Clear Channel was founded in 1972 and benefited greatly from the loosening of media ownership rules, which allowed more radio stations to be held by a single owner in each market.

This is interesting in light of the news I heard today. US Air is attempting to buy Air America in a hostile takeover.

I agree that it's rather ominous--who's in this "investment group"?

[Kookaburra]

4. US Air? The airline?

I heard they were trying to buy Delta Airlines, but haven't heard anything Air America. That doesn't sound right.

[deadmessengers]

5. USAir is not trying to buy Air America

They did, on the other hand, make an 8 Billion dollar hostile takeover offer for Delta Airlines yesterday - perhaps the linked article had their wires crossed?

[Patiod]

26. If it is, though, maybe I can get frequent flyer milage for listening!

That would rock.

[nolies32fouettes]

30. Al Franken said it on the air. He didn't sound like he was joking.

[wildflowergardener]

31. Joke?

I thought Al was telling a joke.

I know when I read Al's book where he talks about his intern dying because he had no health insurance I really wasn't sure whether he was telling the truth or not - and read in his later edition - no his intern didn't die - that he got lots of letters about how heartless he was.

In other words - it's not always easy to tell when Al is joking or not. Also that makes no sense - I did think I saw on the news that US Airways may take over another airline - TV was on mute - so I don't know the details but maybe that was what he was referring to.

Meg

[valerief]

6. Oh, great. I get XM radio specifically for Air America and now it's

going to be dumped? Sucks.

[Target_For_Exterm]

7. Is the investment group Carlyle?

Bush et al don't like the free exchange of ideas on the internet, and they don't like DEMOCRATIC ideas. Their response might well be to control the message through corporate control of the airwaves - just as they do on broadcast television. Except for Olbermann. Olbermann is cool. I'm not sure how he managed to slip his show past the censors at MSNBC, though...

[Target_For_Exterm]

11. I wasn't far off. It's Bain and partners.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x2732703

Message control to keep the American sheeple in the dark, IMO.

[nolies32fouettes]

16. THis is really important info! Thanks!

[Rockholm]

33. Bain = Mitt Romney

[truedelphi]

27. K O's ratings are through the roof!

He did n't slip under their radar - the station is proud of Keith.

SOme weeks back, They even defended him - having their political analyst do a face off with one of the right wing talking head political analysts

They know that the viewers watching Keith far outnumber the viewers watching or listening to Limbaugh

[OzarkDem]

8. Isn't Clear Channel about to go bankrupt?

How can they take over Air America when they already have too much debt?

[jackster]

9. uh oh -

Bain and Thomas H Lee Partners - both conservative

Lee joined with Carlyle to buy Dunkin Donuts

this AIN'T good news

[LilyLibber]

12. They BOTH joined with Carlyle...

to buy Dunkin Donuts. Oh my god - this is really a travesty.

[jackster]

20. omg you're right

I had forgotten - damn

first my coffee and donuts

and now my radio station??????

I'm pretty sure ClearChannel owns Boston's progressive talk.

[nolies32fouettes]

13. How do you know they're conservative?

[jackster]

18. Bain is Mitt Romney's company...

I know family members of Thomas H Lee - I think it's safe to say he's all about the money - and power. He's not a nice guy and he's definitely conservative.

[jackster]

25. I stand corrected....

seems Lee donates more to Democrats than Republicans

However he is from Massachusetts

Some of our dems might as well be repubs

Don't care anyway - Lee connected with CARLYLE on the Dunkin buyout. 'Nuff said for me.

[Ian David]

14. Bain Capital is Der Mittenfuhrer Romney's company

No, it can't be good.

See also:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=364&topic_id=2732891&mesg_id=2733310

[nolies32fouettes]

15. Der Mittenfuhrer Romney? HUH?

[Ian David]

17. See also

See also:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=364&topic_id=2732891&mesg_id=2733310

[TayTay]

19. Thomas H. Lee is a very blue company

and is the first listed partner in this deal. The founder of this company has given hundreds of thousands of dollars to Democrats over the years, including thousands to home state Senator John KEryr. (D) who will be 3rd in charge of the new Senate Commerce Committee. (Which has jurisdiction, btw, over the FCC which will oversee this deal.)

From the www.fec.gov website with search term for company of Thomas H Lee

LEE, THOMAS H
BOSTON, MA 02109
THOMAS H LEE COMPANY

DSCC/NON-FED UNINCORP ASSOC
10/02/2002 10000.00 22020813535
10/09/2002 10000.00 22020813551
10/31/2002 25000.00 22020892355

DEMOCRATIC SENATORIAL CAMPAIGN COMMITTEE
12/31/2003 25000.00 24020023546

DEMOCRATIC SENATORIAL CAMPAIGN COMMITTEE
07/13/2005 26700.00 25020350959

DEMOCRATIC SENATORIAL CAMPAIGN COMMITTEE
06/20/2006 4700.00 26020541033

DEMOCRATIC SENATORIAL CAMPAIGN COMMITTEE
06/20/2001 8333.00 21020090265


As well as a lot of donations to individual Dems.

[nolies32fouettes]

21. thanks!

[LilyLibber]

22. Well, if that's true,

then I feel a little better. A little.

[PassingFair]

32. Straight to the DSCC

So that the DLC can HAND PICK CORPORATE
STOOGES to vote the corporate vote.

:puke:

Meet the new boss. The same as the old boss.

[Rockholm]

34. Current scumbag Governor of Massachusetts

I wish he would move to Utah.

[wyldwolf]

24. I think this piece is wrong. It was Sinclair who showed the Kerry piece

[nolies32fouettes]

29. Sinclair was coowned by Clear Channel, I thought

Or somehow their stations were similar.

[KittyWampus]

35. This has to be another one of the stupidest threads on DU in a while. What really gets me

is some people actually recommended it.

[nicknameless]

36. Reuters article about the purchase:

http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=OBR&Date=20061116&ID=6203916

Clear Channel agrees to be sold for $18.7 billion
All Reuters News

NEW YORK (Reuters) - Clear Channel Communications Inc. , the No. 1 U.S. radio station operator, said on Thursday it had agreed to be taken private in a $18.7 billion buyout by the founding family and equity firms Thomas H. Lee Partners and Bain Capital Partners LLC.

Clear Channel, which also said it plans to divest 448 of its 1,150 radio stations, is selling at a time when the radio advertising market is weak, and listeners are migrating to digital music, Internet media and satellite radio.

The Mays family, which includes Mark, Randall and founder Lowry Mays, is participating in the buyout, but the financial details were not immediately available. Mark Mays will continue as chief executive, and Randall will be president and chief financial officer. Chairman Lowry Mays will continue in an active role, the company said.

The private equity firms, which have also pursued other large media properties this year, agreed to buy Clear Channel for $37.60 a share, a 16 percent premium to the $32.35 closing share price on October 25, when the company said it was looking at strategic alternatives.

Bain and Thomas H. Lee will be equal investors in Clear Channel. The company said no significant layoffs are expected.

[snowbear]

37. Thanks Nick... I agree with the others that the original thread is SOOO off-the-wall wrong...

..that maybe a new thread with new info (like you just posted) would be great.

The other thread is completely filled with BOGUS information in the original thread. Big Eddie Schultz talked about the buy-out today, and =WHY= on earth the original poster here created a thread about it that indicated Air America or any progressive format was on the immediate cutting block is just dead wrong.

Thanks for your post.. But it would be better as an entire new thread with this other one sinking like the Titanic!

[nicknameless]

38. Done.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x2973934

It looked like a college article(?)
Well, they tried.

:hi: