Did you know that many of the talk radio hosts that you listen to on a regular basis use the same company to broadcast their shows? Clear Channel boasts names like Glenn Beck, Rush Limbaugh, Sean Hannity, Mark Levin, and even Coast to Coast AM!
Michael Savage is TRN, but is on a lot of Clear Channel stations.
Clear Channel is the largest owner of radio stations in the United States, and is also a major force in outdoor billboard advertising through the company Clear Channel Outdoor. The company was founded in 1972 by Lowry Mays and Red McCombs. Its headquarters is in San Antonio, Texas, where Clear Channel acquired its first FM station.
IHeartRadio is also Clear Channel for those of you that do a lot of online listening.
Have you heard many of the hosts mentioned above mock Ron Paul and call him “loony”? I have.
Why does this matter?
Did you know that Clear Channel is owned (in large part) by Bain Capital?
On Friday, November 17, 2006, Clear Channel announced that it was going private and selling off almost one-third of its radio assets… The buyers, led by Bain Capital Partners and Thomas H. Lee Partners, agreed to pay $26.7 billion for the company.
Bain Capital was founded by Mitt Romney. Mitt is retired now, but he still profits from Bain Capital according to the New York Times.
Clear Channel Communications is a privately owned company controlled by the private equity companies Bain Capital Partners LLC and Thomas H. Lee Partners LP. Clear Channel was sold for $18.7 billion in cash plus the assumption of $8 billion in debt. The transaction closed on July 24, 2008. The operating company which technically owns Clear Channel is called CC Media Holdings, Inc.
Think about that the next time you’re flipping channels on the radio and realize that Rush Limbaugh calls the candidates “Romney”, “Non-Romney”, and “Loony”…
Why do these other candidates get called “Non-Romney”?
Do you think you’ll be hearing about this story in most of the media sources you frequent?
Then it’s up to you to get the word out. (Especially since by sharing tips like this I help cement that I won’t ever become one of those big names in talk radio)
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