Clear Channel Loses $424 Million in 2012, StopRush Rolls On

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39. You cannot make this shit up

On July 24, 2008, Clear Channel held a special shareholder meeting, during which the majority of shareholders accepted a revised $36-per-share offer from Bain Capital and Thomas H. Lee Partners.[17] The company announced on July 30 that it would offer shareholders either $36 in cash or one share of CC Media Class A common stock for each share of Clear Channel common stock held.[18]

In early 2010 it was announced that the company was facing bankruptcy due to its "crippling debt."[19]

After 21 years, Mark Mays stepped down as President and CEO of Clear Channel on June 23, 2010.[20] Mays will remain as Chairman of the Board, a position he has held for a year prior. The Board engaged Egon Zehnder International, a leading executive search firm, to lead the search for a new CEO. On October 2, 2011, Robert W. "Bob" Pittman was named CEO of Clear Channel.[21]


Go Here and watch the decline of stock value:

https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1360953600000&chddm=692021&chls=IntervalBasedLine&q=NYSE%3ACCO&ntsp=0&fct=big&ei=CxEoUcijFob4lQO3bA

pull the toggle back to 2007 and see it lose 75% of its value.

Nice job Bain.