Posted on 05/17/2008 1:29:30 PM PDT by shrinkermd
Last Friday Rush spent an hour of "precious broadcast time" discussing a book by Jim Nantz. Jim Nantz has worked for CBS for 24 years.
CBS is self-described on their Web Site as:
"...CBS RADIO is one of the largest major-market operators in the United States with stations covering news, alternative rock, oldies, country, talk, classic rock, JACK and urban formats, among others. A division of CBS Corporation, CBS RADIO operates 140 radio stations, all but one of which are in the nation's top 50 markets. The overall mix of each radio station's programming is designed to fit the station's specific format and serve its local community.
CBS RADIO continues to make aggressive moves to converge new and traditional media through creative programming and advanced delivery methods, including online streaming, HD Radio, mobile messaging and podcasting. Audio streams of more than 140 CBS RADIO stations and custom channels are currently available online, and two thirds of the Company's stations are broadcasting in HD digital radio.
Additionally, CBS RADIO is home to 27 of the country's leading sports franchises amongst MLB, the NFL, the NBA, the WNBA and the NHL, including the New York Yankees, New York Mets, Chicago White Sox, New England Patriots, New York Giants, Chicago Bears and the Detroit Red Wings.
Further enhancing CBS RADIO's programming exposure is the Company's long-standing alliance with Westwood One, which provides stations with news, sports, weather, music, talk and entertainment programming and content, and presents an unparalleled menu of events such as the Olympic Games, NFL football, NCAA basketball, including the Men's Basketball Championship, The Masters, the U.S. Open, the Grammy Awards and the Academy of Country Music Awards
On the other hand Clear Channel (CCU)who holds Rush's current contract just recently finished a tortuous and discouraging (for the shareholders)settlement. See this from the current issue of Barron's:
...THE SUCCESSFUL RESOLUTION LAST week of the Clear Channel Communications leveraged buyout is a big victory for the radio and billboard operator's shareholders. They're getting a very generous price, considering the weakness in the company's core radio business. The outlook is much riskier for the buyout group, led by Bain Capital Partners and Thomas H. Lee Partners. A private Clear Channel (ticker: CCU) will carry a debt burden of perhaps $18 billion, and the company is being purchased at a premium to the valuation of such other big media companies as CBS, Time Warner and News Corp., the owner of Barron's.
Bain (Mitt Romney was a co-founder but now allegedly is inactive) and Thomas H. Lee agreed to pay $36 a share for Clear Channel, or $17.9 billion. That's below the prior deal at $39.20 a share that Clear Channel reached last summer, after shareholder opposition to the original agreement at $37.60 a share in 2006. The agreement at $36 represented a concession by Clear Channel after banks sought to pull out of the deal at $39.20 because they faced losses of $2 billion in financing that transaction. Rather than pursue lawsuits against the banks, Clear Channel was willing to recut the deal, pleasing the buyout group and reducing losses for the banks.
The URL for this is: HERE.
CCU will be in no mood to give Rush a better deal, perhaps they would even choose to give him a lesser deal while CBS may be on the prowl for a greater radio presence since they do not have a cable news channel.
Just a guess, but the deal, Rush uncharacteristically spending an hour with Jim Nantz for a new book and puffing (at least it seemed to me) both the CBS radio and sports presence all lead me to think a change may be in the wind.
My guess is this would be about 70% of the population. Many of the 600 stations you refer to, are small stations that cover limited geographic areas. They could still be covered under the EIB mantle as individual contractors.
Someone, some posts back makes the case that CCU is going to break up one way or another. That is, it is by no means certain, that CCU will hold 600 stations under one corporate entity.
CCU bought all those stations with borrowed funds. They now have a tremendous debt burden; their debt/equity ratio is a whopping .75. This with a dividend burden of +2% to keep the shareholders happy makes for a dicey situation as earnings suffer from the recession. To be noted, as well, is CCU has lost 8% of its market value in the last 52 weeks in spite of a spike up when the deal was announced.
CCU is sick. I doubt if Bain and Thomas Lee partners are going to keep a failing business plan; hence, there will be changes.
>> as I posted at the time, that was the most BORING hour of Rush I’ve ever heard in the decade or two I’ve been listening <<
Dittos to that. And maybe it’s just me, but it sure seems that Rush has been slipping lately. I find myself tuning to Dennis Praeger more and more during Rush’s three-hour window.
Interesting. I didn’t know clearchannel was in this much trouble.
I listened to that interview. I thought it was great. Positive and inspiring. I saw all the negative comments about it and the tuning out. IMO, too many conservatives want to go around being pissed off all the time.
btw, prior to that hour, I had no idea who Jim Nantz was.
I thought Stone Phillips was waiting in the wings to take over?
Nantz also wanted to talk about politcs. He mentioned it towards the end of the hour. He sounded pretty conservative.
Is it Nance or Nantz? I have seen it spelled both ways.
On the other hand, how many stations would he be on that pre-empt his shows for local baseball games? That happened a lot in San Francisco when Limbaugh was on KNBR before moving to KSFO.
Also, Clear Channel stood by Limbaugh against Harry Reid and "the letter." We all know how CBS stands by its talent during rough times.
-PJ
You bet!! And if you are a really bad golfer like myself, you can have a good laugh! :)
I tuned out when I knew that there was no way on God’s green earth that I could ever cast an actual vote for Hillary Clinton... or any other democrat for that matter. I won’t/can’t equivocate. I do hope Rush comes back around to being a thinking man.
http://www.youtube.com/watch?v=RvKJGZyGjDE
I don't think your Andy ever even read a book. How about that movie where he gets wooden over the wooden chick (Kim Cattrall)?
That Andy McCarthy also got wooden over the wooden chick.
I could see it. Easy. Rush shows them what he can do with one little book interview .... ie the book goes #1 over night. CBS offers Maho Rushie a big pile of money and we all know that’s what he’s all about.
Yes, Rush is moving to CBS. Right after he buys it.
Wish he would go to satellite radio.
Gimme a break! Satellite radio can kiss my *. Free radio rules. AM and shortwave baby! everything else is for chumps. Satellite can take their majic decoder box and STICK IT!.
Best AM-only portable radio ever made...and what I use at home.
http://www.radiointel.com/nrge.htm
...manufactured in 1959 and still kicks ass. Mine’s never been rebuilt or restored.
AM radio forever!
Here’s a list of the best all around multiband radios ever made:
http://dxtools.com/BestDXrx.htm
It is better than cool.
Particularly since clear channel went a bit limp after Katrina. Some of their shows are now just a wee bit liberal infested.
RUSH RADIO is not just RUSH, it is an entire conservative lineup !!!
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