The more I think about it, the madder I get. Clear Channel says the success of satellite and Internet radio and Ipods justifies further consolidation of radio station license holdings in NY, LA, and Chicago--or, markets with more than fifty or sixty steel-tower stations. [Scroll down for my post on the subject or click here.]
This, of course, would benefit only one license-holder, Clear Channel--at a time when Wall Street is decidedly cool to radio stocks. Clear Channel, the biggest, is the only license-collector with the financing to do such deals. The other big guy--Viacom--is a little distracted right now, splitting up assets. Clear Channel needs a stock play. Such a move would do nothing to make "free radio" more competitive. Just CC stockholders richer, on paper. This is the kind of thinking that continues to weaken what's left of local radio station radio.
Maybe it's time to just let it go. We could use the bandwidth for Wi-Max or faster cell phones.
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1 comment:
kcaxkvgDave,
The corporate mind must think "The best defense is a good offense." What do you expect them to say? "We're big enough?" No need to have more, we're happy now?" Adding more stations deflects the performance of current stations and provides stockholders with "upside". SOP for corp.
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