Look who’s behind the Clear Channel buyout:

[LiviaOlivia]

Look who’s behind the Clear Channel buyout:

Nov. 16 (Bloomberg) -- Clear Channel Communications Inc., the largest U.S. radio broadcaster, agreed to a leveraged buyout by Thomas H. Lee and Bain Capital Partners LLC that values the company at about $19 billion.

And meet Bain Capital
(From Wikipedia)

Bain Capital LLC is a Boston, Massachusetts-based private equity firm founded in 1984 by Mitt Romney, the current Governor of Massachusetts, and two other partners from Bain & Company, the consulting firm: T. Coleman Andrews and Eric Kriss. Bain Capital was originally conceived as a combined equity start-up and leveraged buyout fund, an innovative strategy at the time.

So the GOP Gov. of Mass and possible (GOP)presidential 2008 candidate...owns the country's largest radio network?

from post at:http://www.haloscan.com/comments.php?user=atrios&comment=116369260862617326#8890942

[babylonsister]

1. Nice find, LiviaOlivia. Romney is perhaps setting up his own

media outlet to brainwash the masses?:think:

[notadmblnd]

2. What? he's too good for Faux?

he's special.. he has to have his very own... what's the matter? won't Faux promote his religious agenda?

[Last Stand]

4. This is an obvious connection for us poor Massachusetts schmucks

who have had to deal with Mr. Ivory Tower for years now. He's elitist, he's a union-buster, he thinks all gov's should be run like a business and he doesn't understand why state employees should get health insurance if bank tellers don't. Can't stand the prick. He brought in all his buddies from Bain and wouldn't even negotiate with Reps and other state gov workers who had vital input on how the CommonWealth is run.

He's a royal Bain in the Ass.:kick:

[Norquist Nemesis]

10. If he thinks it should be run like a business, he's in big trouble

We should start a comeback on the Cons who make these 'feel-good' statements for business owners and corporatists.

The purpose of a business is to grow. (cross off "smaller government")

[kerry-is-my-prez]

3. Can't we do anything to stop them?? This is one of the biggest dangers.

n/t

[Subdivisions]

5. God dammit I'm sick and tired of being fed the company line...n/t

[angstlessk]

6. Sounds like the Berlisconni (sp?) route the the presidency. n/t

[Patiod]

12. Dammit, angstlessk, you beat me to it!

that was my first thought as well...

[Liberty Belle]

7. Damn. Clearchannel owns Air America stations in San Diego & probably elsewhere.

[blm]

9. This is a step UP for us - a red company is now PURPLE - no way would FCC approve

the deal to another red company while being overseen by a new congress, so the partner in the deal is a Dem.

We stepped up in this deal, guys. We went from red to purple.

[Liberty Belle]

22. You missed the point; a new owner could shut down the liberal stations.

Clearchannel, although a "red" company that gives money to the GOP, is also profit-driven and allows liberal stations it owns to fluorish as long as they are making money. Those that don't get the plug pulled quickly.

New owners more blatantly tied to the GOP might just decide it doesn't want any progressive stations, regardless of profitability.

[blm]

26. Actually, they'll be selling alot of them off right out of the gate which means

liberal investment groups who COULDN'T afford the big ticket price on the whole company can now pick off ones they CAN afford.

[blm]

8. Bain deal wouldn't get approval with FCC overseen by new congress - so it looks

like they did have to share ownership with a solid Dem partner.

This is a step UP from red to purple - better for us.

[SoCalDem]

11. And don't forget this.

Most buy-outs are closely followed by massive divestiture.

One of the first things they do is to start dumping the "losers".

Right about now, there should be some democratic "investors" who are looking to snap up some of the stations they will surely jettison.

They bought a "losing corporation", so you know there is a major unloading about to happen.

Clear Channel got its start by quietly buying up small stations everywhere and turning them into robo-stations.

What was done, can also be undone

[Sequoia]

13. Like your "evolution" pic.

What do you mean by "dumping the losers"?

[SoCalDem]

14. Undoubtedly there will be some stations that will be for sale

for "bargain prices". Clear Channel had grown to 1100 (I think that's close), and if their value declined by 60%, there's no way on earth that some stations will not get sold..

We need to have some wealthy democrats step up and buy some of them..

It's a prudent thing to do

[Sequoia]

15. Gulp. I have a feeling who might be a loser.

(That's all I can say for now)

[KharmaTrain]

16. The FCC Is A Rubber Stamp

Maybe Democrats will give some real teeth back to this agency, but it's doubtful they'll stop any sale short of the company being another Dubai Ports deal.

The game here is what happens to all the smaller stations that Clear Channel will have to sell. Who will buy, who can afford to buy and what this will do to the industry overall.

This could collapse "stick value" or the over-inflated license values that have made small station owners offers to good to refuse to sell and freezes out all but those with the deepest pockets from owning and operating stations. The question will be how these stations are dealt with...if they are sold for cheap...which would collapse prices on all stations, or will they just shut many of them off and try to preserve the value of what they keep.

It appears this deal isn't in stone and Clear Channel has until Dec. 7th to find another suitor. Either way, yes, this could be a step up, but anyone who ventures into buying these properties will face a very depressed advertising market that has shrunken revenues and forced this sale in the first place.

Stay tuned...

[jackster]

20. Wasn't the partner Thomas H Lee Partners?

Lee just joined with the Carlyle Group to buy out Dunkin Donuts. So I wouldn't consider them too blue.

And right after an election in which liberal and progressive radio may have had a lot to do with the fact that the Democrats won?

If it walks like a duck and quacks like a duck....

[elehhhhna]

17. It's the Berlusconi way! Own all the media and "you decide, then report"

[Jim Warren]

18. Mormon seed money

LDSs operates like a bank, financing their own, with huge but conveniently undisclosed assets. I seen it in action first hand.

Bain Cap financed Staples Inc.

[siligut]

21. Is that why they have radio antennae instead of crosses?

Ever notice LDS churches have radio antennae on their roofs?

[Rosemary2205]

23. They have satellite hookups to each other too.

[upi402]

24. nice folks, but AVID BUSHBOTS!

:wow:

[happydreams]

19. Recommended. Good work

[Jeffersons Ghost]

25. k&R, I'm bookmarking for further research... i rarely bookmark ANY OP...

this needs a LOT more investigation... spooky LiviaOlivia, damn spooky... thanks for the heads up.