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Radio News ®
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 Keeping the pressure up
Almost forgotten as Clear Channel, two private equity firms and six banks battle in various courts is Highfields Capital, the hedge fund that stands to be the third largest owner of Clear Channel if the going-private transaction closes. The New York Post reports that the hedge fund is threatening to pull its trading business from two of those banks if they don't fund the deal.
| Read more here |
RBR observation: It probably will not shock anyone to learn that banks are about money. The Post story says Highfields paid Citigroup about 12 million in trading fees last year, but doesn't offer any estimate for Deutsche Bank. That's real money, but not as much as those two banks would have to write-down if they do the Clear Channel deal on the original terms.
Banks try to limit risk
The six banks who were supposed to fund the private equity buyout of Clear Channel Communications have asked a New York state court to rule that their liability is limited to 600 million bucks if the deal doesn't go through. That is obviously a lot less than the 26 billion-plus that Clear Channel has sued the banks for in a Texas court, but, like so many things in this contest of dueling lawsuits, it is not clear what impact, if any, such a ruling in New York would have on the Texas case. The banks are also trying to draw Clear Channel itself into the New York case, which Clear Channel's lawyers are certain to vigorously oppose, since it was not a signatory to the commitment letter that specified that any legal proceedings would be in New York. The banks had been sued only by Thomas H. Lee Partners and Bain Capital in New York, while they had been sued by Clear Channel and CC Media in Texas. On Friday the banks asked the New York judge to dismiss the suit by TH Lee/Bain as the banks then filed counterclaims against TH Lee/Bain and Clear Channel.
RBR observation: OK, we have figured out who is definitely going to win this. No doubt at all. We are 100% sure. The winner will be THE LAWYERS!
 DOJ sues Fox over indecency fines
Well, it looks like the government is doing just what News Corp.'s Fox Broadcasting had recently dared them to do: "Make us pay." DOJ sued Fox Broadcasting and Sinclair Broadcast Group Friday to collect 56,000 in fines for the airing of Fox's 2003 "Married by America" reality show that included the "thrusting of a male stripper's crotch into a woman's face" in one show (including other scenes) the Justice Dept. found objectionable, according to the filing.
| Read more here |
RBR observation: Good for Fox. They knew this would happen, but find it worthwhile enough to establish precedents now that might keep this unpredictable and unfair Commission at bay. Other broadcasters and networks, we're sure, are thanking them as well.
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Broadcasters catch a break at next Open Meeting
The five FCC commissioners will convene the April Open Meeting next Thursday, 4/10/08, and the Sunshine Notice agenda is remarkably free of issues directly concerning the holders of television or radio licenses. However, for manufacturers and retailers, it's a different story. There are four -- count 'em -- four planks on the agenda aimed squarely at both sides of the consumer electronics community, and they're all coming from the last place you want them: the Enforcement Bureau. The commissioners will consider possible forfeitures aimed at manufacturers of equipment which are incapable of responding to changes in the content advisory rating system, another against a manufacturer in "...violation of the Commission's rule restricting the importation and interstate shipment of analog-only television receivers," and yet another aimed at, of all things, an exercise equipment manufacturer "for violation of the Commission's rule restricting the importation and interstate shipment of analog-only television receivers." Meanwhile, 14 retailers are up on charges of failing to label analog-only receivers.
RBR observation: We don't know if this is good news, retailers and manufacturers, but at least one of your current tormentors, FCC Chairman Kevin Martin, will be up for a little torment himself -- he has a date tomorrow with the senators on the Commerce Committee. However, he will no doubt use his head start to point his finger at the miscreants among your industry sector as evidence that he's doing what he can.
House panel attacks tobacco
 HR 1108 has made it through the House Committee on Energy and Commerce. The bill, "Family Smoking Prevention and Tobacco Control Act," was introduced by Henry Waxman (D-CA) with the full backing of committee chair John Dingell (D-MI). The bill gives the Secretary of Health and Human Services wide power to regulate tobacco products via the Food and Drug Administration, and it made it through the committee with a 38-12 vote. Among the bill's provisions, it allows the Secretary "...to restrict the sale or distribution of tobacco products, including advertising and promotion."
RBR observation: What? No more cigarette ads on TV or radio? No doctors testifying on the effectiveness of a revolutionary new filter? Just like that, an entire ad category goes away? What an outra.....what's that? Not for that long, huh? OK. Never mind -- there are no broadcast tobacco ads, other than the sneaky product placement kind, and even they seem pretty rare these days. Advertising free speech issues come up all the time, and generally we are of the opinion that if a product is legal, it should be legal to advertise and promote it. That argument is pretty hard to make when the topic is tobacco, however. Several of us at TVBR have managed to kick the smoking habit, and we're well aware that it would have been better never to have started it. So we will not support legal tobacco advertising. In fact, according to the E&C Committee, Philip Morris and U.S. Smokeless Tobacco Company actually support this legislation, and the National Association of Convenience Stores has withdrawn opposition. However, if you have an argument in favor of tobacco advertising, we'd love to hear it.
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| RBR/TVBR Blog Log |
Yippie-Ki-Yay Hold onto your hair
Publisher Jim Carnegie points in today's Blog Log on the soap opera of Clear Channel vs the Bankers and a shot gun wedding closing. A deal that was planned with smoke screens and just about ending like a Bruce Willis, Die Hard movie, with Yippie-Ki-Yay and you know the rest of that infamous phrase.
| Read Blog Log, Yippie-Ki-Yay here |
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| Localism |
 Kekeluv still on the mike, going for 175 hours on air
Peak Broadcasting's 103.3 Kiss FM Radio in Boise, ID is close to breaking a record with PD and Afternoon host Kekeluv (Steve Kicklighter) aiming to broadcast for 175 consecutive hours (7 days) without sleep. He's marking April as child abuse prevention month while raising money and awareness for this significant local cause (4/1/08 RBR #64). Here was the latest update from Peak Broadcasting President of Station Development and Operations Bill Figenshu over the weekend: "He is closing in on 95 hours. Blood pressure is normal and aside from leg pain for standing for most of the time he's OK. I suggested he get some footwear that provides support or something soft on the floor before blisters show on his feet. He is eating and very coherent. The staff support has been wonderful and he is never alone. On the street, the station is coming out of every nook and cranny in Ada & Canyon County. Staff report lines of cars at stop lights all playing the station at once. The community outpouring has been phenomenal. Local radio at it very best! Abused women from 30-40 years ago are calling to tell "their story." It will be interesting to see the web hits for the next few days at www.1033kissfm.com. He is getting calls from South Korea to Texas and NYC. The halfway point was Sunday at 2am local time. (87.5 hours.). Hour 103 will happen at 6pm Sunday." For a listen to the 103.3 Kiss Fm Radio on-air promotion,
| go to the RBR.com Media Center |
RBR observation: We checked in ourselves, and yes, on the video screen it looked like he was pouring some coffee! This type of challenge-partnering with a local charity or cause-is the root of what radio is all about-localism. Needless to say, sponsors line up to be a part of this kind of thing. We'd like to call this non-traditional revenue, but it's the most traditional radio has-partnering with the community!
RBR note: Your station promoting Localism? Let us know and share in the voice as RBR demonstrates to the FCC that radio is local.
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Ad Business Report TM
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RCN campaign with Jim Rice includes radio
RCN, a local provider of fiber optic high-speed internet, digital cable and phone services, announced that Boston Red Sox legend Jim Rice is the newest spokesman for the company. Jim Rice spent his entire 16-year career - 1974 through 1989 - with the Boston Red Sox. He will make several appearances throughout the year and will represent RCN in radio, television, print and Internet ads. RCN will also receive autographed memorabilia including baseballs and jerseys. RCN also recently announced it is a official sponsor and corporate partner of the Washington Nationals for the 2008 and 2009 seasons. In addition, RCN has partnerships with American University, the Kettler Capitals Iceplex, the D.C. United soccer team, Georgetown University Athletics, as well as the Patriot Center at George Mason University, and it also has a multi-year, multi-platform campaign with the Washington Redskins.
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| NAB Daytime Planner |
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The following will be attending the NAB. Call or email to make your appointment in advance.
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BROKERS
John Pierce & Company LLC;
John L. Pierce, Jamie Rasnick;
office 859-647-0101, John cell 859-512-3015; Jamie cell 513-252-1186, Bellagio Hotel; [email protected]; [email protected]
Serafin Bros., Inc.; Glenn Serafin;
office 813-885-6060; cell 813-494-6875;
Planet Hollywood (formerly the Aladdin) Hotel; [email protected]
Kozacko Media Services;
Dick Kozacko, George Kimble;
office 607-733-7138; Dick cell - 607-738-1219; George cell - 520-465-4302; Bellagio Hotel; [email protected], [email protected]
Patrick Communications;
Larry Patrick, Managing Partner;
Susan Patrick, Managing Partner;
Greg Guy, Managing Partner;
Todd Wirth, Director;
office: 410-799-1740;
Larry cell 410-707-4602 Bellagio Hotel; [email protected], [email protected]; [email protected]
Frank Boyle & Co; Frank Boyle,
office 203-377-3030;
Frank cell 203-249-07818;
Rio Suites Hotel;
[email protected]
Media Venture Partners; Elliot Evers, Brian Pryor, John Cunney, Bill Fanning,
415-391-4877, Bellagio Hotel;
pcarberryharris@mediaventurepartners.com
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BROKERS
Schutz & Company;
Bill Schutz; Bellagio Hotel;
office 757-258-8740,
Bill cell 757-880-9251;
[email protected]
American Media Services;
Todd Fowler/David Reeder;
office: 843-972-2200; Bellagio Hotel;
[email protected], [email protected]
CONSULTING ENGINEERS
Cavell Mertz & Associates, Inc.;
Gary Cavell, Richard Mertz, Dan Ryson; Main Office 703-392-9090;
[email protected]
BANKERS
Dover Capital Partners, LLC
Kirk Warshaw, General Partner
Peter Ottmar, General Partner
Office: 401/723-1063, x109
Peter's Cell: 401/639-4958
Bellagio Hotel; [email protected];
[email protected]
LEGAL
Womble Carlyle Sandridge & Rice, PLLC; Gregg P. Skall office 202-857-4441, Gregg cell; 703-623-0600; John Garziglia; office 202-857-4532; John cell 202-270-8967; Bellagio Hotel; [email protected]; [email protected]
Contact [email protected] to get your company listed today.
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| Media Business Report TM |
 Mexico re-conquers Southwest? Absolut drinks to that
A story in the LA Times last week featured the latest campaign in Mexico from Swedish vodka maker Absolut. The billboard and press campaign, via Teran\TBWA and now running in Mexico, is a colorful map depicting what the Americas might look like in an "Absolut" world. The U.S.-Mexico border lies where it was before the Mexican-American war of 1848 when California, as we now know it, was Mexican territory and known as Alta California. The campaign taps into the national pride of Mexicans, Favio Ucedo, creative director of leading Latino advertising agency Grupo Gallegos in the U.S, told the paper: "Mexicans talk about how the Americans stole their land, so this is their way of reclaiming it. It's very relevant and the Mexicans will love the idea."
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| Washington Business Report TM |
Senate Commerce Committee tees up DTV
And it will also be teeing up FCC Chairman Kevin Martin and Meredith Attwell Baker, the Acting Assistant Secretary of Commerce, Communications and Information, NTIA, to discuss the current state of the DTV transition. Baker is also a lame duck, so this should be her last appearance. Neil Patel has already been named as her replacement. The session on Capitol Hill will focus on issues of consumer awareness and the status of the digital-to-analog converter box program. Meanwhile, the House Commerce Committee is getting ready to take a look at the 700 MHz spectrum auction. For broadcasters, this session can safely be filed in the "been there, done with that" circular file, but it will likely give Martin another chance for a public appearance on the Hill. If you want proof that it'll likely be a taxing experience just look at the scheduled date for the session: 4/15/08.
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| Media Markets & Money TM |
Garcia Homesteads with FL AM
Mario Garcia is planning to spend 660K to get a foothold in the Miami-Ft. Lauderdale market. His Garcia Communications has filed to acquire WOIR-AM from Amenecer Christian Network Inc. Amenecer is headed by Frank Lopez. Garcia will plunk down 35K into an escrow account, plunk down an additional 65K once the FCC lists the transaction on a public notice, will kick in another 84K within nine months of approval, and then will pay the remaining 476K with five equal annual payments. WOIR is licensed to the community of Homestead, south of Miami.
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__FIRST__ __SECOND__,
here is another transaction brokered by Kalil & Co., Inc.
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| Entertainment Business Report TM |
 Fabulous Sports Babe back in the game in Tampa
Genesis Communications announced The Fabulous Sports Babe, has been signed as a free agent to co-host the Scot Brantley Show on WHBO ESPN AM 1470 in Tampa. The show will become "Brantley and The Babe" and air weekday afternoons from 3 to 6 starting Friday, April 11th. In 1994, The Fabulous Sports Babe became the first - and remains the only - woman to host a national sports talk radio show when she debuted on the ESPN Radio Network.
Milwaukee Brewers and WTMJ extend rights deal
The Milwaukee Brewers and Newsradio 620 WTMJ announced the completion of a radio rights agreement that continues the longstanding partnership between the two organizations, according to Brewers' EVP/Business Operations Rick Schlesinger and Jon Schweitzer, SVP/ General Manager, WTMJ/WKTI. WTMJ is O&O'd by Journal Broadcast Group. WTMJ-AM has served as the radio flagship of the Brewers for all but two seasons since the team moved to Milwaukee. The prior agreement carried through the 2008 season. No other terms of the new contract were disclosed.
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| Internet Business Report TM |
Adam Bain named President of FIM Audience Network
Fox Interactive Media (FIM) announced the appointment of Adam Bain to the new post of President, Fox Interactive Media Audience Network. The new unit's charter will be to optimize monetization across FIM's content network and for third-party publishers leveraging both the company's HyperTargeting technology and ad-serving platform. Bain previously served as the company's EVP of Technology and Production.
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| HD Radio 2008 |
CC Radio now airing 340
HD stations with iTunes Tagging
Clear Channel Radio today announced the HD Radio iTunes tagging feature with more than 340 of its primary HD stations now capable of transferring a song heard on the radio to an Apple iPod.
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| Engineering Business Report TM |
 Broadcast Facilities buys Andrita Media Center
Broadcast Facilities, a media services company led by former Pixar and Fox executive Simon Bax and Bill Tillson, the President of Broadcast Cable Services, Inc., announced the purchase of the Andrita Media Center in LA, from Playboy Enterprises. The Andrita Media Center is a state-of-the-art High Definition (HD) media facility, fully equipped to go from live production to on-air distribution all from within the same building. The 106,000 square foot gated digital media facility provides 24/7 network origination, playback and satellite uplinking. Andrita is equipped with three television production stages with two HD/SD production control rooms. In addition, Andrita has a radio studio and 70,000 square feet of office, editing, dressing and support facilities. Andrita transmits 21 cable networks 24/7, including 5,000 hours of "live" programming per year, via satellite and/or fiber. Andrita's clients include MGM, Hallmark, SiTV, The Tennis Channel, The Africa Channel, World Championship Sports Network, Here! TV and Playboy.
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| Monday Morning Makers & Shakers |
Transactions: 2/18/08-2/22/08
This week, the broadcast transaction bus apparently wasn't able to get the frost scraped off the windshield, yielding the second most pathetic trading week (in terms of the value of contracts filed with the FCC) since we began keeping detailed track of station trading in the summer of 2003. Only the week of 12/24/04-12/31-04, with 803K in total trading value, came in lower than this week's sub-1M total, and the big loser week at least has the excuse of being during the holidays. There will be evidence of improvement in our next report, but not much. BTW, there was only one other week below 1M, also in 2004: a total of only 930K was traded from 2/9/04 to 2/13/04.
| - |
Total |
Mkts 1-50 |
Mkts 51-100 |
Mkts >100 |
Unrated |
| AMs |
2 |
0 |
1 |
0 |
1 |
| FMs |
7 |
0 |
0 |
0 |
7 |
| TVs |
0 |
0 |
0 |
0 |
0 |
| Total |
9 |
0 |
1 |
0 |
8 |
| -Type |
Trans |
Stations |
Value |
| Radio, 1 mkt |
7 |
7 |
670K |
| TV, 1 mkt |
- |
- |
- |
| Rad-TV, 1 mkt |
- |
- |
- |
| Radio, multimkt |
1 |
2 |
250K |
| TV, multimkt |
- |
- |
- |
| Rad-TV, multimkt |
- |
- |
- |
| Totals |
8 |
9 |
920K |
©2008 Radio Business Report, Inc. All rights reserved.
Radio Trans. of the Week:
Sometimes it's best to leave things anonymous
When you look at the values of the top radio deals this week, it reads more like the real estate listings in a troubled tract development where the top properties have three bedrooms and one and a half baths. Suffice it to say that two transactions tied for top honors with a 250K price tag.
TV Trans. of the Week: TV did not participate in this week's recess
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| Transactions |
825K KQBE-FM Ellensburg WA from Peak Communications Inc. (John Kelleher) to Educational Media Foundation (Richard Jenkins, Michael Novak). 41,250 escrow, 408,750 cash at closing, 375K note. Network affiliation agreement 3/1/08. [File date 3/3/08.]
449.5K KXIO-FM Clarksville AR from Ozark Mountain Broadcasting LLC (Roy Leonard) to Jody Copeland. Note. [File date 3/3/08.]
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| Stock Talk |
Friday ended mixed
The biggest monthly jobs decline in five years didn't have as much of an impact on Wall Street as you might expect. Stocks closed mixed, with the Dow Industrials down 17 points to 12,609, while other major indices inched up.
Radio stocks managed a gain. The RBR Radio index rose 0.296, or 0.3%, to 90.152. Radio One Class A gained 8.3%, while its Class D was up 3.3%. Emmis jumped 5.3% and Saga gained 5.2%.
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| Radio Stocks |
Here's how stocks fared on Friday
| Company |
Symbol |
Close |
Change |
Company |
Symbol |
Close |
Change |
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Arbitron*
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ARB
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44.70
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+0.31
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Google
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GOOG
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471.09
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+15.97
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Beasley*
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BBGI
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4.69
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-0.11
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Hearst-Argyle
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HTV
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20.58
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-0.26
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| CBS CI. B |
CBS |
 |
22.29
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-0.34
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Journal Comm.
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JRN
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7.42
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-0.06
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| CBS CI. A |
CBSa |
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22.24
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-0.39
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Lincoln Natl.
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LNC
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55.13
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+0.04
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| Citadel* |
CDL |
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1.79 |
+0.03 |
Radio One, Cl. A
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ROIA
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1.57
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+0.12
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Clear Channel*
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CCU
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28.90
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+0.53
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Radio One, Cl. D*
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ROIAK
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1.55
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+0.05
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Cox Radio*
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CXR
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11.82
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-0.16
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Regent*
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RGCI
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1.28
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unch
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Cumulus*
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CMLS
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6.40
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-0.02
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Saga Commun.*
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SGA
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5.71
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+0.28
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Debut Bcg.
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DBTB
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0.80
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-0.25
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Salem Comm.*
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SALM
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4.28
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-0.17
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Disney
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DIS
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31.24
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-0.29
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Sirius Sat. Radio
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SIRI
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2.79
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unch
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Emmis*
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EMMS
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3.58
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+0.18
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Spanish Bcg.*
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SBSA
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1.90
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unch
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Entercom*
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ETM
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9.88
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-0.31
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Westwood One*
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WON
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2.16
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-0.02
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Entravision
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EVC
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6.52
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-0.02
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XM Sat. Radio
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XMSR
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12.04
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-0.21
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Fisher
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FSCI
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31.29
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-0.22
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-
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-
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-
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-
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-
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*Component of the RBR Radio Index
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Bounceback
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 We want to
hear from you.
This is your column, so send your comments and
a photo to [email protected]
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Below the Fold
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Localism
KeKe Luv still on the mike
103.3 Kiss FM Radio in Boise getting tremendous support locally...
Ad Business Report
RCN campaign with
Jim Rice includes radio...
Media Markets & Money
Garcia Homesteads w/ FL AM
Planning to spend 660K to get a foothold in the Miami-Ft. Lauderdale market...
Washington Business Report
Senate Commerce Committee
Tees up DTV and it will also be teeing up FCC Chairman Kevin Martin...
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Stations for Sale
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 Market your Stations For Sale
in our daily epapers.
Contact
Jim Carnegie
[email protected]
Northern California
FM Group
* Highly Desirable Market
* Excellent Signals
* Seller Financing Available
 The Exline Company
Andy McClure
Erick Steinberg
415-479-3484
[email protected]
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Radio Media Moves
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Upped at CC Radio
Clear Channel Radio announced the promotion of Jeff Rice to Sr. VP of Finance and Accounting, a newly created position. He will oversee all finance and accounting for Clear Channel Radio and report to CEO John Hogan. Rice had been VP of Finance for Clear Channel Radio since 2002. His promotion comes after the departure of CFO Jerry Kersting. Tribune Company has not yet officially confirmed that he is now employed there as part of the growing team of former Clear Channel staffers now working with Randy Michaels.
Missouri promotion
Janelle Carter has been named General Sales Manager for the five-station Journal Broadcast Group cluster in Springfield, MO. She joined the operation in 2001 as an AE and has been Sales Manager for two of the stations since 2005.
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More News Headlines
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Poor pirate busted in port of call
Spectrum buccaneer Roubens Maignan plied the airwaves of Port St. Lucie FL, in the Fort Pierce-Stuart-Vero Beach Arbitron market, using 106.1 MHz for his unlicensed forays into the electronic media space. He was busted on 1/24/07. In his defense, he claimed to be unaware that a license was required to run an FM radio station, a defense that the vast body of FCC precedent easily renders useless. With ignorance no excuse, he was hit with the standard 10K fine. Additional documentation provided by Maignan failed to establish his innocence, but it did successfully establish his relative poverty. The FCC determined that the 10K fine would be an undue hardship on Maignan's family, and cut him some slack, 8.5K worth to be exact. The bottom line on the new bill detailing Maignan's debt to society reads 1.5K.
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TVBR - TV News
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CEA urges America to look after Mom
Senior citizens are members of a demographic considered among the most at risk as the nation careens towards the death of broadcast analog television. The Consumer Electronics Association is mounting a new campaign reaching out to boomers, to get them to reach out in turn to the elderly. "CEA's member companies have filled retail stores with a wide assortment of affordable digital TV products, from low-cost digital televisions to converter boxes and antennas that are easy to hook up to existing analog TV sets," said CEA's Gary Shapiro. "We know that one of the best ways to reach seniors is through their families. With Convert Your Mom we're asking baby boomers to help make sure everyone is ready well in advance." CEA says that digital television receivers can now be had at prices under 200 dollars. It is providing DTV educational material at digitaltips.org.
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RBR Radar 2008
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Radio News you won't read any where else. RBR--First, Accurate, and Independently Owned.
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Banks under pressure in
Clear Channel battle
It's strike two for the banks who were supposed to fund the 26.7 billion bucks buyout of Clear Channel Communications. A federal judge has rejected an attempt by the banks to move the case to federal court, bouncing it back to the Texas state judge in San Antonio who had already issued an order that essentially required the banks to fulfill their loan commitments. Bexar County Judge John Gabriel had already issued a temporary restraining order barring the banks from interfering with closing the Clear Channel buyout. He has set a hearing of next Tuesday, April 8th, on whether to grant a permanent injunction.
RBR observation: Hang onto your hats! Things could start moving fast. The banks do not want to risk a trial in Texas, where Clear Channel's lawsuit is seeking damages well in excess of 26 billion bucks. The Financial Times notes that a jury in Texas back in 1985 awarded Pennzoil 10 billion bucks from Texaco for interfering with Pennzoil's attempt to merge with Getty Oil. We would not be surprised to see a settlement by Monday, before Judge Gabriel's scheduled hearing on Tuesday.
04/04/08 RBR #67
Battle engaged over content pricing
Entertainment is a major part of the economy in California, and SB 1765 has become the fulcrum in a battle pitting studios and broadcasters against various entertainment unions. The bill would require that entertainment companies charge fair market value for movie, television and radio content. It is a remedy for the alleged practice of selling content cheap from one portion of a vertically-integrated media conglomerate to another in order to duck fair compensation to the talent that created it.
RBR observation: Any legislation that threatens to impose penalties on one entity or another, pivoting on an issue as fuzzy and gray as fair market value, is just crazy, if you ask us. Read more here
04/04/08 RBR #67
Keeping the closing table ready
With lawsuits flying, Clear Channel Communications has again extended its bond tenders so that they can close, if and when a group of banks comes to the closing table with over 22 billion bucks in financing for the 26.7 billion bucks buyout. The new expiration date for the bond tenders, if it means anything, is April 11th. Clear Channel notes that it has sued the banks to enforce their commitment.
RBR observation: If those numbers have more digits that anything ever entered in your checkbook, remember that this was, back in early 2007, a must view all these zero, RBR's Clear Channel buyout funding , read this page report in
04/03/08 RBR #66
The Philly PPM in-tab explanation
Yes, in-tab numbers for PPM were down for Week 1 of March in Philadelphia (4/2/08 RBR #65). After checking into it, Arbitron Sr. VP Thom Mocarsky says that was a result of the company's efforts to improve performance in Persons 25-34, as promised to broadcasters.
RBR observation: More of the examination and explanation in RBR report page here
04/03/08 RBR #66
Banks fire back
Battling continues over which court, if any, should determine whether six big banks have to step up to the plate and finance the 26.7 billion bucks buyout of Clear Channel Communications. The banks have asked a New York court to toss a lawsuit by the would-be buyers, Thomas H. Lee Partners and Bain Capital. And, as reported by RBR/TVBR, Clear Channel is trying to turn back an attempt by the banks to move another lawsuit from the Texas courts to federal court.
RBR observation: No doubt there will be legal maneuvering on an almost daily basis. It seems to us the key development to watch for is whether the federal judge in San Antonio acts quickly on the attempt by Clear Channel to have its lawsuit against the banks returned to the Texas state courts, where a judge had already issued a temporary restraining order against the banks (3/27/08 RBR #61). If the ball is knocked back into the court of that fast-moving judge, the hearing he has scheduled for April 8th could bring this to a quick conclusion. Don't bet on it happening. Read more details and Observation here in RBR
04/02/08 RBR #65
Rooney strikes a
blow for free speech
CBS's curmudgeon in residence Andy Rooney, who at age 89 is still making waves on "60 Minutes," has weighed in on the fleeting expletives issue. Foul language on television? He's against it. Regulating foul language on television? He's against that too. Some have been calling the broadcast airwaves an open sewer, but Rooney offered some perspective.
04/02/08 RBR #65
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