Clear Channel to Unload 55 Radio Stations
by Katy Bachman - Mediaweek
Now that the Clear Channel has gone private, the company wasted little time in identifying 55 radio stations to sell.
The news comes on the heels of CBS' announcement that it will also unload 50 stations in 12 mid-size markets, including perhaps the nation's oldest station, KDKA-AM in Pittsburgh.
Stations Clear Channel has put on the block include some prime stations, including WALK in Nassau-Suffolk; KCNL (Channel 104.9), KUFX (the Fox) & KSJO in San Jose; KYRK/New Orleans; WAKS (96.5 Kiss FM) in Cleveland; WURH (Radio 104.1) in Hartford; and WJRR in Orlando. Additionally, CC will either sell off or exchange WOFX & WNNF (Radio 94-1) in Cincinnati and KHMX (Mix 96.5) and KLOL in Houston to comply with the Department of Justice as part of its deal to go private.
Both CBS and Clear Channel are selling at a time when radio advertising is in a downward spiral. Flooding the market with relatively strong properties could mean companies can pick up stations at a price that might have been previously unacceptable to sellers.
