Clear Channel facing creditors; on verge of collapse
National News:Clear Channel Communications appears to be on the brink of collapse. Sources told the New York Post that if the largest radio station owner can't restructure its debt in the next few years, it will likely collapse. The large creditors would like to see that happen. Negotiations with some lenders to refinance a "crippling" debt have apparently been unsuccessful.
Locally, CC owns WDVE-FM (102.5), WXDX-FM (105.9), WWSW-FM (94.5), WKST-FM (96.1), WPGB-FM (104.7) and WBGG-AM (970).
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Clear Channel also owns Youngstown area stations WKBN 570 (News Talk), WNCD 93.3 (Rock), WAKZ 95.9 (CHR), WMXY 98.9 (Hot AC), WBBG 106.1 (Classic Hits) and WNIO 1390 (Nostalgia). The company also owned stations in the Ashtabula market but sold those to Media One a few years ago.
Tom Lavery (URL) - April 13, 2010 at 6:30 pm
Oh no…does this mean even more voice tracking?
trefdawg - April 13, 2010 at 9:30 pm
“Clear Channel facing creditors; on verge of collapse” I must say it couldn’t happen to a better company.
Rick in DC (formerly of Pgh) - April 14, 2010 at 09:42 am
Does this mean the beginning of the end of the whoreporate media as we know and loathe?
Rick - April 14, 2010 at 09:43 am
I agree with Rick in DC. Clear Channel had it coming, and they’re getting what they deserve for what they did to the Pittsburgh radio market. The only people that I feel sorry for are the CC employees who are going to have to bear the brunt of the consequences for CC’s greed.
Jenn - April 14, 2010 at 12:57 pm