Clear Channel losing $ hand over tight fist

Washington Post: Mega Hurts: Clear Channel’s Big Radio Ways Are Getting a Lot of Static These Days (via Slashdot). Apparently Clear Channel’s relentless homogenization of US radio is causing some other people than me to turn off that station. Or maybe it’s just the hideous advertising slump.

In some cities, the company’s radio stations attract as much as half the audience and advertising dollars… If a pending deal to buy a competitor in Charlottesville is approved, Clear Channel would control more than 90 percent of that city’s radio market, according to analyst Mark Fratrik of BIAfn Inc.

But if Clear Channel is a colossus, it’s a colossus under the gun.

The company lost money every quarter last year, piling up an annual loss of $1.1 billion. Clear Channel also is shouldering $8 billion in debt — the legacy of its deal-a-minute expansion spree. With a long advertising slump afoot, the company’s stock is selling at about half its peak price of two years ago.