Re: more Clear Channel more often

[Scott Saloway <saloway@bu.edu>]

I just heard this about an hour ago on BZ...and immediately slammed on the
breaks (maybe it was just traffic, but I like to think everyone on 93 was
as surprised as I was.)

Here's the question: Clear Channel already runs radio and outdoor
properties (two-thirds of Ackerley's business is in those areas). But does
Clear Channel own any TV stations? Ackerley's a major player in the local
TV game....will Clear Channel know what to do with those stations?

Especially in upstate NY, where Ackerley owns many properties (sometimes
two in the same city), will Clear Channel's purchase lead to a mass
defection of employees? Will the local station suffer? Will Clear Channel
try to "voice-track" (picture-track?) its TV stations from one central
location? 

I for one am scared....

--Scott--

On Mon, 8 Oct 2001, Donna Halper wrote:

> So what do you good folks make of this?  Is there anything Clear Channel 
> won't own before too much longer, and how will this affect the media 
> landscape?  This is from www.newsblues.com
> 
> CLEAR CHANNEL BUYS ACKERLEY
> Radio mega-monster Clear Channel Communications has agreed to acquire 
> outdoor media and broadcasting company Ackerley Group in a stock deal worth 
> about $495 million. (the deal values at about $800 million, including the 
> assumption of about $294 million of its debt.)
> Ackerley, which owns 20 stations in New York, California and Oregon, has 
> been staggered by the economy. In August, their group president, Dennis 
> Curley, resigned after the company chopped management salaries by 
> 10-percent across the board. [rest snipped]
> 
> 
> 
>