Topic: Presidential Campaign 2008
Implications of Mitt Romney's Purchase of Clear Channel Communications Mitt Romney's firm Bain Capital is in the process of trying to buy Clear Channel Communications.by CT Johnson
(libertarian)
Thursday, December 13, 2007
SAN ANTONIO, TX, September 25, 2007 - Clear Channel Communications, Inc. (NYSE:CCU), a global leader in the radio broadcasting and out-of-home advertising industries, announced today that, based on a preliminary vote count, Clear Channel shareholders approved the adoption of the merger agreement with a group led by T.H. Lee Partners, L.P. and Bain Capital Partners, LLC.
Clear Channel Communications is the largest U.S. radio station boasting 1,100 AM, FM, and shortwave stations. In addition it has 30 plus TV stations and has 12 XM Satellite Radio stations.
This deal, even though not closed yet, could be significant. No candidate running for President of the United States at this time could boast such direct influence with the media. One has to wonder if the Romney campaign would make it publicly known that their candidate was tied to the above mentioned 1,100 radio stations 12 XM stations and 30 plus TV stations. Would these stations in the tradition of honest journalism mention their ties to Romney whenever a story about the 2008 Presidential race was discussed? This writer sure hopes so. The American electorate deserves to have the whole truth so that any bias, accidental or not, can be considered.
Do you the readers think that this is significant? Let me know.
The views expressed in this
article are those of CT Johnson only and do not represent
the views of Nolan Chart, LLC or its affiliates. CT Johnson is
solely responsible for the contents of this article and is not an
employee or otherwise affiliated with Nolan Chart, LLC in his/her role as a columnist.
Interesting. I have not seen this mentioned anywhere else. Romney is obviously a very shrewd and well connected businessman, but I'm not sure if that makes for a good president.
Oh please...These mergers/takeovers take forever to happen, even once they come to terms, it will take months before it actually happens. And then, of course, it would take a while before they brainwash all of their talk show hosts into covering Mitt Romney and spinning everything his way. Of course, we all know that the radio talk show hosts only spew what their holding company owners tell them to spew.
I think you might be a little reactionary on this one.
Well, I doubt that it is criminal Dean, but it sure could be abused. Keyword 'could'. It would be interesting to see if Rush Limbaugh and others on Clear Channel would announce the connection of their station to Mitt Romney while discussing politics. You know...clear, open journalism...
This needs to be fully divulged and discussed. If it is tried behind the scenes, that should destroy Romney's credibility as an honest, open leader, and show him for simply being out for power by any means.
Coop, mergers and takeovers can happen very quickly and do. Especially if the stockholders are on board. If you have some digging in their heels, then you could be looking at years, but the timing just seems a bit odd. A man willing to throw double digit millions of his own money into a campaign for the white house seems desparate. Heck, the job only pays $400,000 a year. Why do any of those millionaires want the job? They are filthy stinking rich as it is, they don't need the job for the money, that's for sure. Is it for prestige? Or perhaps for a way to control the masses for their corporations gains? Something stinks about this possible merger and its connections to a presidential candidate. Be interesting to see how this plays out.
no i could care less.
Romney does not work for or with bain and hasn't since the salt lake city Olympics. the people at bain
are more concerned with making a profit for themselves and their investors than helping mitt. doing something unethical or illegal would not be good business something bain is known for.
Coop, even if the merger takes forever, go check out my article, "Poll Numbers and News Coverage in the 2008 Presidential Race". Look at the results for Mitt Romney. He's at the top of most of the MSM.
Based on a simple search, and the fact that Fox News will be broadcast on over 500 Clear Channel stations, I'd say they're looking ahead. Mergers and Takeovers may take forever, but coming from a company that is going through a merger right now, I can tell you that the new boss can still make decissions long before any contract is signed. Plus, when a company goes public with something like this, it has already been in the works for a long time. Once it's public it doesn't take very long.
Coop, even if the merger takes forever, go check out my article, "Poll Numbers and News Coverage in the 2008 Presidential Race". Look at the results for Mitt Romney. He's at the top of most of the MSM.
Based on a simple search, and the fact that Fox News will be broadcast on over 500 Clear Channel stations, I'd say they're looking ahead. Mergers and Takeovers may take forever, but coming from a company that is going through a merger right now, I can tell you that the new boss can still make decissions long before any contract is signed. Plus, when a company goes public with something like this, it has already been in the works for a long time. Once it's public it doesn't take very long.
reagon , reagonomics , tax cuts for the rich , 9 trillion dollars in debt , the iraq war to cost 1 trillion dollars , clinton nafta deal , bush has a shafta deal , bush vetoes health care for children , while bush and congress and supreme court have 100% cradle to grave health care . now romney has a plan to buy the first amendment of free speech. seems to me that there is a plan here that the future depression soon to come to pass in out u s a will not be reported . there will be no reports on the homeless and children having to go to school on empty stomachs. there will be no reports on lack of jobs. there will be no reports of mexican full employment. almost all mexicans work for cash , no taxes paid. soon the republicans will develope a plan to eliminate medicare and social security . wake up america. jesus would have been a democrat. vote for whoever the democrat candidate will be. if , and this is a big if , democrat control of congress and the white house , will allow for a tax increase on the rich. what america needs now is class warfare. what america needs now is a new deal.
to bill: no , i am not a left wing journalist. actually congressman duncan hunter , at the republican debate spoke out on these very issues. the fact that because of our trade deficits and budget deficits , quote duncan hunter , "we need to terminate the china card that nixon played in 1972. it is not working in our favor. we need to bring back these good paying manufacturing jobs so as to show the world we are in favor of fair trade. also these jobs tend to allow a strong middle class , which is the very backbone of our tax base." bill , duncan hunter is a republican from california. how about you bill? i am a retired mechanic with a high school education. i am a strong believer in what ross perot tried so hard to get america to see. ross perot knew that nafta was a bad deal. ross perot knows about mexico and the mexican mafia. ross perot knew that mexico will dump their undesireables across our border to accomplish two things. the mexican invasion will ensure that mexico will reclaim the land they lost during the 1846-1848 war when the united states annexed texas , new mexico, arizona , california. without firing a shot mexico will reclaim the land by forcing those who live there to learn the mexican culture and language. at the same time we have this problem , we have china manipulating their currency , so as to ensure that american companies can not compete. during the clinton years , bill clinton gave away the store. china's students studying at u s universities , returned to china with our american knowledge. communist have always said that we will sell them the very rope that we will hang you with. michael savage stated that he would , if he were to be elected president , that he would put a tarrif of 20% on all china imports , and raise that tarrif each 6 months , until china gets it. stop manipulating the currency. by the way , our current president bush , it is his responsibility to enforce unfair trade. bill , it is kind of like your dog poops on my lawn. i tell you to stop it and 5 years later your dog still poops on my lawn. oh well , after all , we are friends , are we not??? if china were to be our friend , and we have done a lot for china , why is it that they , china , does not help us on our war with islam??? ok , never mind about the dog , bill , i will clean up the poop. after all , we are friends , are we not????
Bill...do you really believe that Mitt has zero financial ties and social/business/political connections within the company he used to run. To think otherwise is folly.
Romney is no longer with Bain Capital officially, so to call it "Mitt Romney's firm" and refer to it as "Mitt Romney's purchase of Clear Channel" is inaccurate on its face. If you think he still has ties, say so and prove it. But to base such an inflammatory headline on an assumption is, to put it mildly, misleading.
And it does not "appear" that Bain Capital is buying Clear Channel, Bain Capital -- along with Thomas H. Lee Partners - *is* buying Clear Channel. This merger agreement was announced back in May of 2006 and, pending regulatory approval, is set to close in Q1 of next year. All the developments in this going-private deal have been widely covered in the broadcast-industry and financial press. There's been nothing secret or mysterious about it.
And Clear Channel no longer owns 1,100 stations, but closer to 850. It's been selling stations for the last year and a half in preparation for this buyout and plans to sell more. This has also been widely reported.
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