BLM: Media Watch -- The Clear Channel Buyout

[TayTay]

People on DU have seen this as a net loss because Bain Capital is attached to the new deal to take Clear Channel private.

Ahm, look again at this deal. The other two partners in the deal, Thomas H. Lee and Texas Pacific Group are overwhelmingly Blue companies. (Bain is 40-60, favoring Repubs. I know this was Romney's company, but they covered their bases, as befits a Boston Company. BTW. Thomas H. Lee is a Boston company as well and heavily blue. The founder is a long-time FOJK and a Big Donor to same.)

See this: http://biz.yahoo.com/ic/40/40463.html

http://www.opensecrets.org/1996os/detail/S4MA00069.htm (Search Lee )

http://www.opensecrets.org/1994os/osdata/kerryjoh.pdf (Search Lee)

Ahm, this might not be what DU thinks it is. This takes a very red company and turns it's overall ownership bright blue.

[blm]

1. As long as it isn't for show, this could be a decent deal. How strong are Lee's

ties to JK? Anything personal - friend, acquaintance, or circle of friends?

[TayTay]

3. Very long term

and very, very long. Did you see the third link I posted. At least back to the '80's.

[blm]

4. OK - good news.

Do you want it posted in GD with the specifics or just general affirmation?

[TayTay]

5. I tried that already.

It didn't take. All anyone could see was the Bain Capital involvement. Give it a day, so that this can be seen.

I think that this company will be combined with others. The biggest upshot in today's business news is that Clear Channel is seeking to dump 448 stations right off the bat. (MarketWatch) For someone with some money to throw around, that is a tremendous chance to do some pickups.

BTW, this alliance of Thomas H Lee, Bain and Texas Pacific Group had a bid in for the Tribune properties (Chicago Tribune, LA Times, etc.)

[cadmium]

7. I wonder what are the implications for

Air America. Clear Channel carries a lot of their programming. I wonder if they will ax some stations-- and hopefully upgrade some others.

[blm]

9. I haven't seen the thread.

.

[cadmium]

2. I hope this holds true--I was concerned

that this would herald a Romney blitz on radio. Fingers crossed.

[MH1]

6. Is it a done deal?

I saw that CC was going on the block but hadn't seen anything since.

If this is the endgame then it is good news, I think. Considering that much worse could have happened. And that this will likely be an improvement from the current state.

[TayTay]

8. It has to be approved by the FCC

And there have been a lot of movement for media companies lately. (Ahm, media ia in trouble in some sectors.)

[TayTay]

10. One more thing

This FCC's members are nominated and cleared in the Senate Commerce Committee.

These are Democratic (Majority) members of Commerce for the 110th Congress

Commerce

CHAIR: Inouye
Rockefeller
Kerry
Dorgan
Boxer
Nelson (Fl)
Cantwell
Lautenberg
Pryor
Carper
McCaskill
Klobuchar

Sen. Kerry's sub-committee on Technology, Innovation and Competitiveness has jurisdiction over some things, including high-speed computing networks and such, that ANY media company has an interest in.

This could be very interesting.

[ProSense]

11. Strong list!

Lautenberg is very vocal when it comes to media bias!

This deal is a promising, it's a starting point.

[ProSense]

12. The information

in GD-P is showing this as very negative and could benefit from some clarity!

[TayTay]

13. It requires some serious research

Which I will attend to, post-work, tonight.

[ProSense]

14. More details

to research. Bowers has it wrong, but here is a comment posted at MyDD:

First of all, Mitt Romney no longer has any interest in Bain Capital. Romney gave up his 100% interest in the firm several years ago. He couldn't possibly have run for Gov. of MA if he had retained his interest unless he wanted serious questions raised about his integrity. Secondly, Thomas H. Lee, the founding partner of Thomas H. Lee LLC is a major donor to Democrats, for what it's worth. Finally, the May brothers, who have been running Clear Channel, and are big contributors to the Republican party, are also part of the buyout consortium. Bottom line: there is no story here.

[nolies32fouettes]

15. Was I wrong? Is Sinclair not connected to Clear Channel?

[TayTay]

16. No connection at all

Sorry. They are entirely separate business entities.

No problem. It's easy to get these rapidly morphing media companies confused. I do it all the time and tracking them is part of my day job. (I untangle spaghetti for a living.) LOL!

[nolies32fouettes]

17. uh oh! I just gave out misinformation then!

[TayTay]

18. Again, don't feel bad

The media is an insectuous business and it is constantly changing. The org charts of the major media cos is completely different than it was 5 years ago. It is confusing for the companies involved, so it certainly is confusing for those trying to keep it all straight.

Don't worry about it. It's an easy mistake to make.