Clear Channel just talked someone into lending them $575 million. Clear Channel has somewhere around $20 billion in debt from winning the merger orgy set off in 1996.<\/p>\n
Clear Channel is more than radio stations – the bulk of their tangible assets are in billboards in the United States and bus shelters in Europe.<\/p>\n
At least one industry defender points to the ease of Clear Channel raising money that the debt is not a problem. Orly? This new debt carries a rate of 11.25%<\/p>\n
Another industry critic is spinning a scenario that Bob Pittman and his friends are preparing to strip the company of its assets before the debt caves in.<\/p>\n
We’ll see who turns out to be right.<\/p>\n","protected":false},"excerpt":{"rendered":"
Clear Channel just talked someone into lending them $575 million. Clear Channel has somewhere around $20 billion in debt from winning the merger orgy set off in 1996. Clear Channel is more than radio stations – the bulk of their … Continue reading