26 March 2008

Bill Cunningham's Job Still Safe for Now

It looks like Clear Channel might remain Clear Channel for the time being. The Business Courier reports that the "Wall Street Journal is reporting on its Web site that the private equity firms leading the buyout are facing a difficult time reaching agreeable terms with the bank partners to close the deal."

One of the firms, Bain Capital Partners, was co-founded by Mitt Romney.

Among Clear Channel's local stations are WLW and WEBN on the radio and WKRC on TV. Federal court required Clear Channel to sell some of its stations before the deal could move forward. Some locals expressed hope that the radio stations (WLW, especially) would be sold and content would improve. According to the Courier article, however, it was the TV station that was slated for sale.

3 comments:

Mark said...

If you look at the history of WLW, it's amazing (Rod Sterling made it big there). What happened?

Mark said...

If you look at the history of WLW, it's amazing (Rod Sterling made it big there). What happened?

Mark said...

Whoops, now in stereo.