Twitter posts are pointless, ads don’t work and music should be free. These are some of the striking claims making waves among media executives and investors from the pen of a 15-year-old intern at Morgan Stanley.
Clear Channel, the nation’s largest radio station operator and an outdoor billboard company, last year became the biggest leveraged buyout ever in the media business, after it was taken private by Thomas H. Lee Partners and Bain Capital. Now its revenues are plunging and so is its cash flow, making it harder to meet the payments on the billions in debt accumulated in the process of buying out its public investors. If it violates some of its loan agreements, those interest payments rise sharply.
Like many others in my business, the technical talk starts to eclipse plain talk. But this AM station snaps me out of it.
Sirius XM Satellite Radio has been working with advisers to prepare for a possible bankruptcy filing in a move that could put pressure on satellite company EchoStar, which owns a substantial amount of the company’s debt.
Despite setbacks, analysts say Sirius XM Radio, now the only satellite radio provider in the United States, is still a good long-term buy for investors. But do traditional AM/FM stations have as much potential for profit?
Thursday Clear Channel Communications shareholders voted to approve the company's sale to a group of private equity investors, led by Bain Capital and Thomas H. Lee Partners. Friday the company said a quick tally of votes indicated that 97 percent of the shares voted were in favor of the transaction.
There are still some loud voices of dissent; Commissioner Jonathan Adelstein is concerned about the merged company having too much power. He pointed out that XM-Sirius would have "more spectrum than AM and FM combined."
Regulators reached an agreement to conditionally approve Sirius Satellite Radio's purchase of XM Satellite Radio as the companies said they would pay millions of dollars to settle allegations of past rule violations.
Commissioners at the Federal Communications Commission have reached an agreement to approve Sirius Satellite Radio's purchase of XM Satellite Radio , the Wall Street Journal reported.
The Federal Communications Commission is close to giving a green light to Sirius Satellite Radio's proposed takeover of acquisition of XM Satellite Radio, the Wall Street Journal reported Wednesday.
A Federal Communications Commission member who sought further concessions in a pending satellite radio buyout withdrew his offer Wednesday after it failed to draw support.
The details haven't been announced but Drudge is reporting that the deal goes through 2016 and is worth more than $400 million dollars. I've spoken to a number of record industry insiders, and though no one would confirm those exact numbers, they all said that the high figure make sense.
Don Imus again faces questions this morning over on-air remarks about race.
XM and Sirius Satellite radio--the nation's only two satellite radio operators--have cleared a major hurdle: FCC Chair Kevin Martin recommended approval of their merger. This puts them one step closer to the deal that's now valued at roughly $7.5 billion dollars, based on recent stock prices.
If the banks let this deal collapse, they should prepare to be sued from here to eternity. And rightfully so, Cramer says.
It might have seemed like a boring day in the stock market, but there was plenty of action including late-breaking news on Clear Channel, the pre-earnings Oracle trade and more.
The DoJ's approval of XM-Sirius was a long time coming, Dennis Kneale says. Now it's up to the FCC.
Even if the market comes back, do not expect the terrestrial radio companies to follow suit. Here's why.
He’s been the merger’s staunchest opponent. Now the Democrat from Texas explains his position to Cramer.
The Mad Money host calls out the members of Congress who are blocking the XM-Sirius merger from going through.