Rumors have been surfacing about a possible Clear Channel buyout. CNBC recently reported that the Mays family had been approached to sell their controlling stake in Clear Channel to a private equity group. Several financial experts have suggested that Google is motivated to own at least a minority stake in CC. Adding fuel to the rumor mill, Google recently hired several “sales superstars” in New York, DC, and Chicago - these cream of the crop types have specific knowledge of major market radio sales.
Is Google good for terrestrial radio? Would Google add more or less diversity (programming voices not people) to the airwaves? How might Google influence CC’s Outdoor (billboard advertisement) presence on America’s Highways? Connections… YouTube and FM radio - possibilities, predictions…?
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3 comments:
Hmm…I would be interested in seeing if Google uses terrestrial radio as a platform to launch some sort of satellite or pay as you listen format. The success of XM satellite radio could and should spawn heavy and more capable competition.
Google’s main attribute is of course its name; familiarity and reliability lie in the heart of Google’s already widely used and trusted products. If Google were to enter into the world of radio it would be better for them, I think to start out in competition with Clear Channel. Though Clear Channel has a shaky but large hold on the market, it would be good to test the waters, so to speak. A clear buy out of CC would ultimately have no flaws, I guess, other than the fact that HD radio and satellite formats are growing in popularity.
One benefit I can see coming from a Google buy out would be the integration of Google products. Imagine, Google maps, information search and HD radio on the FACTORY system in your car.
Dane K.
Its official...Its official...Clear Channel has been bought out by an investor for 18.7 billion dollars..in Cash.!! The private equity firms Thomas H. Lee Partners and Bain Capital Partners. were the leaders of the investor group. Plans are to sell off around 500 of the 1150 stations in the smaller markets. I believe that google ended up not having any stakes in the sale. Larger markets shouldn't be immediately effected by the buyout. Be on the look out as radio will now regain its power..!!
Anthony Casias
As far as diversity and influence I believe Google would be really great for Clear Channel it would make it more interesting but do I think it’s a good idea financially absolutely not. Google would become an insane five year old with its fingers in everything. More specifically a five year old with too much money for it’s own good. Creatively the possibilities of Google owning Clear Channel are endless and I would predict great things. However, I don’t believe Google should be allowed that much control over media.
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