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at first I thought this was a joke - Mitt Romney's VC Firm to Buy Clear Channel

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donsu Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-14-07 11:34 AM
Original message
at first I thought this was a joke - Mitt Romney's VC Firm to Buy Clear Channel

http://www.lewrockwell.com/blog/lewrw/archives/017694.h...


What would it cost to buy the support of just about every nationally syndicated neocon talk show host in America? About $19.5 billion, which is what Mitt Romney's private equity firm, Bain Capital, and Thomas H. Lee Partners have agreed to pay in a leveraged buyout agreement with Clear Channel Communications, the largest radio station owner in the country. This is part of a negotiation that has been pending for over a year.

Clear Channel owns more than 1,100 full-power AM, FM, and shortwave radio stations, twelve radio channels on XM Satellite Radio, and more than 30 television stations in the United States. Premiere Radio Networks, which is the largest syndication company in the United States, is a wholly owned subsidiary of Clear Channel and is home to Rush Limbaugh, Glenn Beck, and many others. Sean Hannity recently signed a large multi-market contract with Clear Channel, as well.

-snip-

It should be noted that Mitt Romney, while no longer the CEO, remains a silent partner of Bain Capital.
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Occam Bandage Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-14-07 11:35 AM
Response to Original message
1. I see no conflicts of interest there.
Not one.
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alphafemale Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-14-07 11:36 AM
Response to Reply #1
2. snark alert
:evilgrin:
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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-14-07 11:40 AM
Response to Original message
3. Does he think that buying the media will make him the prez?
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Tesha Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-14-07 11:49 AM
Response to Reply #3
6. In a general sense, it's worked almost perfectly for Republicans so far. (NT)
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TwilightGardener Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-14-07 11:45 AM
Response to Original message
4. If/when Bloomberg runs, what will happen with Bloomberg News?
Edited on Fri Dec-14-07 11:45 AM by wienerdoggie
He is still somewhat involved with that company, and although I really like Bloomberg News--I think they are a very fair news outlet, on a par with McClatchy--you have to wonder if that's a conflict of interest too, should he run.
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madinmaryland Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-14-07 11:48 AM
Response to Reply #4
5. Do I see a Bloomberg/Romney ticket?
A country of the rich, by the rich and for the rich.

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TwilightGardener Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-14-07 11:52 AM
Response to Reply #5
7. I don't think so--but Rush Limbaugh just predicted a..drum roll please...
BLOOMBERG/HILLARY TICKET if the nominees are Huckabee and Obama. I guess he thinks Hillary is that spiteful.
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madinmaryland Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-14-07 11:57 AM
Response to Reply #7
9. OxyMoran weighs in (heavily) on this!
They really are envious and afraid of Hillary.
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Kucinich4America Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-14-07 11:53 AM
Response to Original message
8. Make no mistake about it: Mittens is the Bush Crime Family candidate for 2008
Jeb is bankrolling him, Poppy introduced his "I love Jesus too" speech, and now he's buying up Radio Pravda.

For those who don't know the history, Clear Channel has essentially been Bush Crime Family Radio all along......

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