Is that a misprint?

They ran up CC's debt in typical vulture capitalist fashion. You can't make shit up this funny.

http://www.mysanantonio.com/business/article/CC-Media-Holdings-losses-rise-to-191M-last-4291592.php

No company can sustain those kind of losses indefinitely, and their losses are getting bigger, not smaller.

It seems as if Rush and CC are swirling the bowl.

Last edited Sun Apr 28, 2013, 08:18 PM - Edit history (1)

Per the link below:

http://www.allaccess.com/net-news/archive/story/115514/clear-channel-media-ccm-e-revenues-both-up-4-in-q4

There is the parent company - Clear Channel Mcommunications which had a 4% increase for the quarter and 3% for the year.

Subsidiary to that is Clear Channel Media Holdings (Radio, etc), which grew at 3%.

And there is also Clear Channel Outdoor, subsidiary to the parent company (billboards). This isn't addressed in the story, but it looks like that also grew at 3%.

These massive losses are due to the repayment of debt, from prior years, accrued to make huge purchases to get into the 'iheart Radio' business and other stuff.

Bottom line - these losses are not a meaningful way of judging Limbaugh's success or failure, or even the success of Clear Channel Media Holdings.

So, how is Limbaugh doing? I have no idea...and you'd probably have to be an investor to be 'in the know' on that. One way to judge would be to listen to the program and record the number of local vs Limbaugh advertiser spots...and do the same with a recording of the program from 2011. And compare. But I don't want to do that.

The Invisible Hand is strangling Clear Channel.

I realize Clear Channel has a contract with Limbaugh. It begs the question on whether CC will renew his contract when it's time. Even where I live, you're seeing people distancing themselves from Limbaugh because of the outrageous, tasteless, contradictory, misinformed and incoherent remarks he's been making. And that's on his good days.

but the contract with Slush is the big pole in the tent. I cant recall the number of years he was signed for nor for how much. But yes they are hurting most definitely and it is working.

As some people have said, I think it has to do more with Bain Capital obtaining Clear Channel in 2008. I haven't researched it, but I would suspect that before looking into the Rush Limbaugh connection.

One of these days I'm going to research Michael McCaul (the richest politician in America - congressman (R) from Texas), he married the daughter of Clear Channel executive and co-founder Lowry Mays. I'm sure McCaul is a model citizen/legislature..... Before the selling of Clear Channel, he was intimately involved with the family that owned Rush Limbaugh, Michael Savage, etc... It's probably like having Rush himself in a legislative position ._.

n/t